Section 341 - Meetings of Creditors and Equity Security Holders


Title 11 of the United States Code - Bankruptcy
CASE ADMINISTRATION – CHAPTER 3

Meetings of Creditors and Equity Security Holders - Section 341
11 USCS § 341



(a) Within a reasonable time after the order for relief in a case under this title, the United States trustee shall convene and preside at a meeting of creditors.
 
(b) The United States trustee may convene a meeting of any equity security holders.
 
(c) The court may not preside at, and may not attend, any meeting under this section including any final meeting of creditors. Notwithstanding any local court rule, provision of a State constitution, any otherwise applicable nonbankruptcy law, or any other requirement that representation at the meeting of creditors under subsection (a) be by an attorney, a creditor holding a consumer debt or any representative of the creditor (which may include an entity or an employee of an entity and may be a representative for more than 1 creditor) shall be permitted to appear at and participate in the meeting of creditors in a case under chapter 7 or 13 [11 USCS §§ 701 et seq. or 1301 et seq.], either alone or in conjunction with an attorney for the creditor. Nothing in this subsection shall be construed to require any creditor to be represented by an attorney at any meeting of creditors.
 
(d) Prior to the conclusion of the meeting of creditors or equity security holders, the trustee shall orally examine the debtor to ensure that the debtor in a case under chapter 7 of this title [11 USCS §§ 701 et seq.] is aware of--
   (1) the potential consequences of seeking a discharge in bankruptcy, including the effects on credit history;
   (2) the debtor's ability to file a petition under a different chapter of this title;
   (3) the effect of receiving a discharge of debts under this title; and
   (4) the effect of reaffirming a debt, including the debtor's knowledge of the provisions of section 524(d) of this title [11 USCS § 524(d)].
 
(e) Notwithstanding subsections (a) and (b), the court, on the request of a party in interest and after notice and a hearing, for cause may order that the United States trustee not convene a meeting of creditors or equity security holders if the debtor has filed a plan as to which the debtor solicited acceptances prior to the commencement of the case.


Why page through the US Bankruptcy Code when you can click it? That’s right; Sagaria Law has the complete, unedited version of the code here for the convenience of anyone interested in reviewing it as a bankruptcy resource.  It’s the real thing! The only thing we did was make it easier to “page” through by separating it into sections on our website that you can click through at your own pace.
San Francisco, Roseville, Sacramento and surrounding areas of Northern California, Sagaria Law is here for you…literally! We have bankruptcy offices in each of these cities, and more, to serve bankruptcy clients near and far.  We can’t wait to meet you!

 

Attorney Consultation!! $99 Retainer Fee!! Free Bankruptcy Evaluation
Motivation Bills Assets Budget
The law varies from state-to-state — please provide your zip code!

Why are you considering bankruptcy? (select all that apply)









Motivation Bills Assets Budget

What bills do you have? (select all that apply)








Motivation Bills Assets Budget
Do you own real estate ?
If Yes , are you behind in these payments?


Do you own an automobile ?
If Yes , are you behind in these payments?


Do you have any additional assets worth more than $1000.00?
Motivation Bills Assets Budget

What types of income do you have? (select all that apply)






$
Contact Info Your Evaluation

Call For A Consultation

toll free: 1-866-447-8460