Notice: The uscode.house.gov website is currently operating in a temporary format. While the United States Code remains available from its authoritative source, some website features and functionality are temporarily unavailable.
The United States Code Online is current through Public Law 119-120 (October 7, 2026).
Search & Browse Currency and Updating Classification Tables Popular Name Tool Positive Law Codification Editorial Reclassification Downloads
11 U.S.C. 744: Executory contractsText contains those laws in effect through Public Law 119-120 (October 7, 2026).
From Title 11-BANKRUPTCYCHAPTER 7-LIQUIDATION
Jump To: Source CreditHistorical and Revision NotesMiscellaneousEditorial NotesAmendments

§744. Executory contracts

Notwithstanding section 365(d)(1) of this title, the trustee shall assume or reject, under section 365 of this title, any executory contract of the debtor for the purchase or sale of a security in the ordinary course of the debtor’s business, within a reasonable time after the date of the order for relief, but not to exceed 30 days. If the trustee does not assume such a contract within such time, such contract is rejected.

( Pub. L. 95–598 , Nov. 6, 1978 , 92 Stat. 2613 ; Pub. L. 97–222, § 10 , July 27, 1982 , 96 Stat. 238 .)

Historical and Revision Notes

senate report no. 95–989

Section 744 instructs the court to give the trustee a reasonable time, not to exceed 30 days, to assume or reject any executory contract of the stockbroker to buy or sell securities. Any contract not assumed within the time fixed by the court is considered to be rejected.

Editorial Notes

Amendments

1982⁠—Pub. L. 97–222 inserted “but” after “relief,”.