Pub. L. 103-394, tit. II, sec. 223

PROCEEDS OF MONEY ORDER AGREEMENTS.

EnactedYear: 1994Length: 163 wordsOfficial source
SEC. 223. PROCEEDS OF MONEY ORDER AGREEMENTS. Section 541(b) of title 11, United States Code, is amended— (1) in paragraph (3) by striking “or” at the end and inserting a semicolon, (2) in paragraph (4) by striking the period at the end and inserting “; or”, and (3) by inserting after paragraph (4) the following: 108 STAT. 4130 “(5) any interest in cash or cash equivalents that constitute proceeds of a sale by the debtor of a money order that is made— “(A) on or after the date that is 14 days prior to the date on which the petition is filed; and “(B) under an agreement with a money order issuer that prohibits the commingling of such proceeds with property of the debtor (notwithstanding that, contrary to the agreement, the proceeds may have been commingled with property of the debtor), unless the money order issuer had not taken action, prior to the filing of the petition, to require compliance with the prohibition.”.
Pub. L. 103-394, tit. II, sec. 223: PROCEEDS OF MONEY ORDER AGREEMENTS. | Justis AI