Act of May 13, 1959, Pub. L. 86-24, 73 Stat. 24
An Act To amend Chapter 13—Wage Earners’ Plans—of the Bankruptcy Act
Eighty-Sixth Congress, Session I · Approved May 13, 1959
Amends chapter XIII (wage earners’ plans) of the Bankruptcy Act. It redefines “wage earner” in section 606(8) as an individual whose principal income is derived from wages, salary or commissions, and rewrites section 659(3) so that the additional fee for the referees’ salary fund and the trustee’s commission (not more than 5 per centum) are computed on the payments actually made by or for the debtor under the plan. It applies to cases filed after enactment.
This is an unofficial transcription, prepared by Robert J. Pfister for ease of reading and copying. The authoritative text is the United States Statutes at Large.
United States Statutes at Large (PDF, 1 page) (opens in a new tab) Unofficial transcription (PDF, 1 page) (opens in a new tab)
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That paragraph (8) of section 606 of the Bankruptcy Act (11 U.S.C., 1006(8)) is amended to read as follows:
“(8) ‘wage earner’ shall mean an individual whose principal income is derived from wages, salary or commissions.”
Sec. 2. That paragraph (3) of section 659 of such Act (11 U.S.C., 1059(3)) is hereby amended to read as follows:
“(3) an additional fee for the referees’ salary fund, to be graduated and charged in the manner outlined in paragraph (2) of subdivision c of section 40 of this Act, and to be computed upon the amount of the payments actually made by or for a debtor under the plan; and commissions to the trustee of not more than 5 per centum to be computed upon and payable out of the payments actually made by or for a debtor under the plan;”.
Sec. 3. The provisions of this Act shall apply to all cases in which the petition initiating the proceedings under the Bankruptcy Act is filed subsequent to the date of the enactment of this Act.
Approved May 13, 1959.