DUTIES AND RESPONSIBILITIES OF THE TRUSTEE.

SEC. 414. DUTIES AND RESPONSIBILITIES OF THE TRUSTEE. Section 315 of the Trust Indenture Act of 1939 (15 U.S.C. 77ooo) is amended— (1) by striking “The indenture to be qualified may” in subsections (a) and (e) and inserting “The indenture to be qualified shall automatically be deemed (unless it is expressly provided therein that any such provision is excluded) to”; (2) by striking “such indenture shall contain provisions requiring the indenture trustee to examine” in subsection (a) and inserting “the indenture trustee shall examine”; (3) by striking “The indenture to be qualified shall contain provisions requiring the indenture trustee to” in subsections (b) and (c) and inserting “The indenture trustee shall”; (4) by striking “That such indenture may” in the proviso in subsection (b) and inserting “That such indenture shall automatically be deemed (unless it is expressly provided therein that such provision is excluded) to”; and (5) by striking “such indenture may” in paragraphs (1), (2), and (3) of subsection (d) and inserting “such indenture shall automatically be deemed (unless it is expressly provided therein that any such provision is excluded) to”.