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TITLE 11 > CHAPTER 3 > SUBCHAPTER III > § 341Prev | Next

§ 341. Meetings of creditors and equity security ­holders
Release date: 2005-07-12

(a) Within a reasonable time after the order for relief in a case under this title, the United States trustee shall convene and preside at a meeting of creditors.
(b) The United States trustee may convene a meeting of any equity security holders.
(c) The court may not preside at, and may not attend, any meeting under this section including any final meeting of creditors.
(d) Prior to the conclusion of the meeting of creditors or equity security holders, the trustee shall orally examine the debtor to ensure that the debtor in a case under chapter 7 of this title is aware of—
(1) the potential consequences of seeking a discharge in bankruptcy, including the effects on credit history;
(2) the debtor’s ability to file a petition under a different chapter of this title;
(3) the effect of receiving a discharge of debts under this title; and
(4) the effect of reaffirming a debt, including the debtor’s knowledge of the provisions of section 524 (d) of this title.





 
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