Act of Nov. 28, 1967, Pub. L. 90-156, 81 Stat. 510
An Act To amend sections 334, 355, 367, and 369 of the Bankruptcy Act
Ninetieth Congress, Session I · Approved November 28, 1967
Revises the chapter XI claims provisions enacted in 1963. Section 334 now requires the first meeting of creditors to be held not less than twenty-five nor more than forty days after the petition. The rewritten section 355 requires creditors, including the United States, any State and any subdivision, to file their proofs of claim before confirmation, except that a claim scheduled by the debtor may be filed within thirty days after notice of confirmation is mailed (but not allowed above the scheduled amount) and a claim arising from rejection of an executory contract may be filed within such time as the court directs. Sections 367(3) and 369 are conformed.
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, 2 pages) (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 section 334 of the Bankruptcy Act (11 U.S.C. 734) is amended to read as follows:
“Sec. 334. Not less than twenty-five nor more than forty days after the petition is filed the court shall hold a first meeting of creditors.”
Sec. 2. Section 355 of the Bankruptcy Act (11 U.S.C. 755) is amended to read as follows:
“Sec. 355. Creditors, including the United States, any State, and any subdivision thereof, shall file their proofs of claim before confirmation except as follows:
“(1) if scheduled by the debtor, a claim may be filed within thirty days after the date of mailing notice of confirmation to creditors but shall not be allowed for an amount in excess of that set forth in the debtor’s schedules; and
“(2) a claim arising from the rejection of an executory contract of the debtor may be filed within such time as the court may direct.”
Sec. 3. Paragraph (3) of section 367 of the Bankruptcy Act (11 U.S.C. 767(3)) is amended to read as follows:
“(3) the consideration deposited, if any, shall be distributed and the rights provided by the arrangement shall inure to the creditors affected by the arrangement, including the United States, any State, and any subdivision thereof, whose claims are filed within the time prescribed by section 355 of this chapter and are allowed; and”
Sec. 4. Section 369 of the Bankruptcy Act (11 U.S.C. 769) is amended to read as follows:
“Sec. 369. The court shall in any event retain jurisdiction until the final allowance or disallowance of all claims affected by the arrangement which have been filed within the limitations as to time and amount prescribed by section 355 but have not been allowed or disallowed prior to confirmation.”
Approved November 28, 1967.