by the United States government

“ The interest of a limited partner in a limited partnership is included in order to make sure that everything that is defined as an equity security is also a "security." The definition, as with the definition of "entity", "insider", and "person", is open-ended because the term is not susceptible of precise specification. ”

“ The definition of "railroad" in paragraph (33) is derived from section 77 of the Bankruptcy Act [section 205 of former title 11] . A railroad is a common carrier by railroad engaged in the transportation of individuals or property, or an owner of trackage facilities leased by such a common carrier. The effect of the definition and the use of the term in section 109 (d) is to eliminate the limitation now found in section 77 of the Bankruptcy Act that only railroads engaged in interstate commerce may proceed under the railroad reorganization provisions. ”

“ An indenture is the instrument under which securities, either debt or equity, of the debtor are outstanding. Paragraph (23) defines "indenture trustee" as the trustee under an indenture. Paragraph (24) defines "individual with regular income." The effect of this definition, and of its use in section 109 (e) , is to expand substantially the kinds of individuals that are eligible for relief under chapter 13, Adjustment of Debts of an Individual with Regular Income. ”

“ Paragraph (2) defines "affiliate." An affiliate is an entity with a close relationship to the debtor. It includes a 20 percent parent or subsidiary of the debtor, whether a corporate, partnership, individual, or estate parent. The use of "directly or indirectly" in subparagraphs (A) and (B) is intended to cover situations in which there is an opportunity to control, and where the existence of that opportunity operates as indirect control. "Affiliate" is defined primarily for use in the definition of insider, infra, and for use in the chapter 11 reorganization cases. ”

“ The definition is intended to include other officers of the court if their functions are substantially similar to those of a receiver or trustee. "Debt" is defined in paragraph (12) [enacted as (11) ] as a liability on a claim. The terms "debt" and "claim" are coextensive: a creditor has a "claim" against the debtor; the debtor owes a "debt" to the creditor. This definition of "debt" and the definition of "claim" on which it is based, proposed 11 U.S.C. 101 (4) , does not include a transaction such as a policy loan on an insurance policy. ”

“ Subsections (C) and (D) of paragraph (2) define affiliate also as those persons and entities whose business or substantially all of whose property is operated under a lease or operating agreement by a debtor and whose business or property is more than 50 percent under the control of the debtor. The definition of "attorney" in paragraph (3) is similar to the definition of accountant. Paragraph (4) defines "claim." The effect of the definition is a significant departure from present law. Under present law, "claim" is not defined in straight bankruptcy. ”

“ The definition encompasses the United States, a State, Commonwealth, District, Territory, municipality, or foreign state, and a department, agency, or instrumentality of any of those entities. "Department, agency, or instrumentality" does not include an entity that owes its existence to State action, such as the granting of a charter or a license but that has no other connection with a State or local government or the Federal Government. ”

“ The term "disinterested person" means a person that - (A) is not a creditor, an equity security holder, or an insider; (B) is not and was not, within 2 years before the date of the filing of the petition, a director, officer, or employee of the debtor; and (C) does not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the debtor, or for any other reason. ”

“ A foreign proceeding is a proceeding in another country in which the debtor has some substantial connection for the purpose of liquidating the estate of the debtor or the purpose of financial rehabilitation of the debtor. A foreign representative is the representative of the estate in a foreign proceeding, such as a trustee or administrator. Paragraph (21) defines "governmental unit" in the broadest sense. ”

“ Under that kind of transaction, the debtor is not liable to the insurance company for repayment; the amount owed is merely available to the company for setoff against any benefits that become payable under the policy. As such, the loan is not a claim (it is not a right to payment) that the company can assert against the estate ”

“ The term "corporation" - (A) includes - (i) association having a power or privilege that a private corporation, but not an individual or a partnership, possesses; (ii) partnership association organized under a law that makes only the capital subscribed responsible for the debts of such association; (iii) joint-stock company; (iv) unincorporated company or association; or (v) business trust; but (B) does not include limited partnership. (10) The term "creditor" means - (A) entity that has a claim against the debtor that arose at the time of or before the order for relief concerning the debtor ”

“ Under this definition, any transfer of an interest in property is a transfer, including a transfer of possession, custody, or control even if there is no transfer of title, because possession, custody, and control are interests in property. ”

“ Thus, individuals on welfare, social security, fixed pension incomes, or who live on investment incomes, will be able to work out repayment plans with their creditors rather than being forced into straight bankruptcy. Also, self-employed individuals will be eligible to use chapter 13 if they have regular incomes. However, the definition excludes certain stockbrokers and commodity brokers, in order to prohibit them from proceeding under chapter 13 and avoiding the customer protection provisions of chapter 7. "Insider", defined in paragraph (25) , is a new term. ”

“ It permits the broadest possible relief in the bankruptcy court. Paragraph (5) defines "commodity broker" by reference to various terms used and defined in subchapter IV of chapter 7, Commodity Broker Liquidation. The terms are described in connection with section 761, infra. Paragraph (6) defines "community claim" for those eight States that have community property laws. The definition is keyed to the liability of the debtor's property for a claim against either the debtor or the debtor's spouse. If the debtor's property is liable for a claim against either, that claim is a community claim. ”

“ The term "master netting agreement" - (A) means an agreement providing for the exercise of rights, including rights of netting, setoff, liquidation, termination, acceleration, or close out, under or in connection with one or more contracts that are described in any one or more of paragraphs (1) through (5) of section 561 (a) , or any security agreement or arrangement or other credit enhancement related to one or more of the foregoing, including any guarantee or reimbursement obligation related to 1 or more of the foregoing ”

“ The term "family fisherman" means - (A) an individual or individual and spouse engaged in a commercial fishing operation - (i) whose aggregate debts do not exceed $1,500,000 and not less than 80 percent of whose aggregate noncontingent, liquidated debts (excluding a debt for the principal residence of such individual or such individual and spouse, unless such debt arises out of a commercial fishing operation) , on the date the case is filed, arise out of a commercial fishing operation owned or operated by such individual or such individual and spouse ”

“ Section 702 of Pub. L. 103-394 provided that: " (a) Effective Date. - Except as provided in subsection (b) , this Act [see Tables for classification] shall take effect on the date of the enactment of this Act [Oct. 22, 1994] . " (b) Application of Amendments. - (1) Except as provided in paragraph (2) , the amendments made by this Act shall not apply with respect to cases commenced under title 11 of the United States Code before the date of the enactment of this Act. " (2) (A) Paragraph (1) shall not apply with respect to the amendment made by section 111 [amending section 524 of this title] . ”

“ Pub. L. 101-311, Sec. 201 (1) , inserted "as defined in section 761 (8) of this title, or any similar good, article, service, right, or interest which is presently or in the future becomes the subject of dealing in the forward contract trade," after "transfer of commodity," and ", including, but not limited to, a repurchase transaction, reverse repurchase transaction, consignment, lease, swap, hedge transaction, deposit, loan, option, allocated transaction, unallocated transaction, or any combination thereof or option thereon" after "entered into". Par. (25) . Pub. ”

“ L. 109-8, title VIII, Sec. 802 (d) (3) , Apr. 20, 2005, 119 Stat. 146. The Securities Exchange Act of 1934, referred to in pars. (47) (A) (i) , (48) , (48A) , and (53B) (B) , is act June 6, 1934, ch. 404, 48 Stat. 881, as amended, which is classified principally to chapter 2B (Sec. 78a et seq.) of Title 15, Commerce and Trade. Sections 3, 6, 15A, and 17A of the Act are classified to sections 78c, 78f, 78o-3 and 78q-1, respectively, of Title 15. ”

“ Par. (53A) . Pub. L. 103-394, Sec. 501 (a) (3) , (b) (1) (E) , redesignated par. (54) defining "stockbroker" as (53A) and substituted "section 741" for "section 741 (2) " in subpar. (A) . Par. (53B) . Pub. L. 103-394, Sec. 501 (a) (3) , redesignated par. (55) defining "swap agreement" as (53B) . Par. (53C) . Pub. L. 103-394, Sec. 501 (a) (3) , redesignated par. (56) defining "swap participant" as (53C) . Par. (53D) . Pub. L. 103-394, Sec. 501 (a) (3) , (d) (1) (F) , redesignated par. (57) defining "timeshare plan" as (53D) and substituted semicolon for period at end. Par. (54) . Pub. ”