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(3) For the purpose of such recovery or of the avoidance of such transfer or obligation, where plenary proceedings are necessary, any State court which would have had jurisdiction if bankruptcy had not intervened and any court of bankruptcy shall have concurrent jurisdiction.

The proviso in (2) was inserted by the Act of July 7, 1952, P.L. 456, 82d Cong., 2d Sess., § 23(f), to authorize preserving a transfer for the benefit of an estate, as provided in section 60 and section 67. Otherwise the subdivision stands as amended by the Chandler Act (1938). This subdivision formerly read: "e. The trustee may avoid any transfer by the bankrupt of his property which any creditor of such bankrupt might have avoided, and may recover the property so transferred, or its value, from the person to whom it was transferred, unless he was a bona fide holder for value prior to the date of the adjudication. Such property may be recovered or its value collected from whoever may have received it, except a bona fide holder for value. For the purpose of such recovery any court of bankruptcy as hereinbefore defined, and any State court which would have had jurisdiction if bankruptcy had not intervened, shall have concurrent jurisdiction." The first two sentences came from the original act. The last sentence was added by the amendment of 1903.

(1) now incorporates part of section 67e as it stood before 1938. The language "or voidable for any other reason" combines the former sections 67a and 70e.

(2) was derived in 1938 from old sections 67e and 70e.

(3) corresponds to the last sentence in former section 70e. The references to the avoidance of such transfer or obligation and to the need of plenary proceedings were added.

f. The court shall appoint a competent and disinterested appraiser and upon cause shown may appoint additional appraisers, who shall appraise all the items of real and personal property belonging to the bankrupt estate and who shall prepare and file with the court their report thereof. Real and personal property shall, when practicable, be sold subject to the approval of the court. It shall not be sold otherwise than subject to the approval of the court for less than 75 per centum of its appraised value. Whenever any sale of real or personal property of any bankrupt is made by or through any auctioneer employed by the court, receiver, or trustee, such auctioneer, if an individual or a partnership, shall be a bona-fide resident and citizen of the judicial district in which the property to be sold is situated, or, if a corporation, shall be lawfully domesticated and authorized to transact such business in the State in which said judicial district is located.

As Revised by the Chandler Act (1938). This was originally section 70b. The first sentence was inserted and the following dropped: "All real and personal property belonging to bankrupt estates shall be appraised by three disinterested appraisers; they shall be appointed by, and report to, the court." The last sentence was also added. It represents political insistence on local patronage.

g. The title to property of a bankrupt estate which has been sold, as herein provided, shall be conveyed to the purchaser by the trustee.

This appeared in the Act of 1898 as subdivision c. The Chandler Act (1938) contained a subdivision 70h which was a revision of section 70d of the Act of 1898. The subject matter of the trustee's title is now covered by sections 381, 486 and 669, which were enacted in connection with the repeal of subdivision h and of subdivision 64b by the Act of July 7, 1952, P.L. 456, 82d Cong., 2d Sess., § 23(g).

i. Upon the confirmation of an arrangement or plan, or at such later time as may be provided by the arrangement or plan, or in the order confirming the arrangement or plan, the title to the property dealt with shall revest in the bankrupt or debtor, or vest in such other person as may be provided by the arrangement or plan or in the order confirming the arrangement or plan.

As enacted by the Chandler Act (1938). Section 70f of the Act of 1898 provided: "Upon the confirmation of a composition offered by a bankrupt, the title to his property shall thereupon revest in him."

Sec. 71. (11 U.S.C. § 111.) Clerks' Indexes; Certificates of Search; Dockets

The clerks of the several district courts of the United States shall prepare and keep in their respective offices complete and convenient indexes of all proceedings and discharges under this Act heretofore or hereafter filed in the said courts and shall, when requested so to do, issue certificates of search certifying as to whether or not any such proceedings or discharges have been filed. The clerks shall be entitled to receive for such certificates the same fees as may be allowed by law for certificates as to judgments in such courts. Such indexes and dockets shall at all times be open to inspection and examination by all persons without any fee or charge therefor.

Added by the amendment of 1903 and amended in form by the Chandler Act (1938). In view of the language of Chapters XI to XIII, discharges "under the Act" are now referred to instead of discharges "in bankruptcy". Other obvious changes in form have been made.

The reference to judgment certificates was made more flexible in 1938.

Sec. 72. (11 U.S.C. § 112.) Limitation of Compensation of Officers of Court

No receiver, marshal, or trustee shall in any form or guise receive, nor shall the court allow him, any other or further compensation for his services as required by this Act, than that expressly authorized and prescribed in this Act.

No referee shall receive any compensation for his services under this Act other than his salary; and allowances made to a referee for compensation or expense while acting as a conciliation commissioner under section 75, or as a referee or special master

under any chapter or section of this Act, shall be paid to the clerk, and by him transmitted to the Treasury of the United States for deposit in the referees' salary fund and referees' expense fund, respectively.

As Amended by the Referees' Salary Act 1946. The first paragraph was introduced by the Amendment of 1903 with reference to the referee and the trustee. The Amendment of 1910 included the receiver and marshal. These provisions limited compensation without qualification, but the Chandler Act (1938) restricted the limit to services "required by this Act." The Referees' Salary Act omitted "referee" from this paragraph, covering that subject explicitly in the added paragraph.

Chapter VIII


Sections 73 and 74 (11 U.S.C. §§ 201, 202) as amended, have been incorporated into chapters XI, XII, and XIII.

Sec. 75. (11 U.S.C. § 203.) Agricultural Compositions and Extensions

(a) Conciliation commissioners; appointment; qualifications; term of office.-Every United States district court of bankruptcy shall appoint not more than twenty persons in any one district to be known as 'conciliation commissioners'. One such commissioner shall be appointed from each division or for the territory served by the city where terms of court are held. The court shall designate the territorial district of each such commissioner. A conciliation commissioner's term of office shall be two years, but he may be removed by the court if his services are no longer needed or for other cause. No individual shall be eligible to appointment as a conciliation commissioner unless he is eligible for appointment as referee and in addition is a resident of the district, familiar with agricultural conditions therein and not engaged in the farm-mortgage business, the business of financing farmers or transactions in agricultural commodities or the business of marketing or dealing in agricultural commodities or of furnishing agricultural supplies. In each judicial district the court may, if it finds it necessary or desirable, appoint a suitable person as a supervising conciliation commissioner. The supervising conciliation commissioner shall have such supervisory functions under this section as the court may by order specify.

As Amended by the Act of March 11, 1944, section 1, 58 Stat. 113. The first three sentences previously read: "Courts of bankruptcy are authorized, upon petition of at least fifteen farmers within any county who certify that they intend to file petitions under this section, to appoint for such county one or more referees to be known as conciliation commissioners, or to designate for service in such county a conciliation commissioner previously appointed for an adjacent county. In case more than one conciliation commissioner is appointed for a county, each commissioner shall act separately and shall have such territorial jurisdiction within the county as the court shall specify. A conciliation commissioner shall have a term of office of one year and may be removed by the court if his services are no longer needed or for other cause." In the sentence following "or for other cause" the requirement as to resident of the "district" formerly read "county."

(b) Fee on filing petition; compensation and fees of conciliation commissioners; general orders to govern office of commissioner. Upon filing of any petition by a farmer under this section there shall be paid a fee of $25 to be transmitted to the clerk of the

court and covered into the Treasury. The conciliation commissioner shall receive as compensation for his services a fee of $25 for each case submitted to him, to be paid out of the Treasury when the conciliation commissioner completes the duties assigned to him by the court. A supervising conciliation commissioner shall receive, as compensation for his services, a per diem allowance to be fixed by the court, in an amount not in excess of $10 per day, together with subsistence and travel expenses in accordance with the law applicable to officers of the Department of Justice. Such compensation and expenses shall be paid out of the Treasury. If the creditors at any time desire supervision over the farming operations of a farmer, the cost of such supervision shall be borne by such creditors or by the farmer, as may be agreed upon by them, but in no instance shall the farmer be required to pay more than one-half of the cost of such supervision. Nothing contained in this section shall prevent a conciliation commissioner who supervises such farming operations from receiving such compensation therefor as may be so agreed upon. No fees, costs, or other charges shall be charged or taxed to any farmer or his creditors by any conciliation commissioner or with respect to any proceeding under this section, except as hereinbefore in this section. provided. The conciliation commissioner may accept and avail himself of office space, equipment, and assistance furnished him by other Federal officials, or by any State, county, or other public officials. The Supreme Court is authorized to make such general orders as it may find necessary properly to govern the administration of the office of conciliation commissioner and proceedings under this section; but any district court of the United States may, for good cause shown and in the interests of justice, permit any such general order to be waived.

In the first sentence, the fee of $25 to be paid upon filing of petition, prior to the Act above noted, was $10. In the second sentence, as amended by section 2 of the Chandler Act (1938), "$25 for each case submitted to him" was followed by "and when docketed." In the third sentence, per diem not in excess of $10 was formerly $5.

(c) At any time prior to March 1, 1949, a petition may be filed by any farmer in the district court of the district in which he resides, stating that such farmer is insolvent or unable to meet his debts as they mature and that it is desirable to effect a composition or an extension of time to pay his debts. The petition or answer of the farmer shall be accompanied by his schedules. If any such petition is filed, an order of adjudication shall not be entered except as provided hereinafter in this section.

The original limit for filing was March 3, 1938, five years after the enactment of section 75. The Act of March 4, 1938, 52 Stat. 84, extended the limit to March 4, 1940, upon which day it was extended to March 4, 1944, 54 Stat. 40. Upon March 11, 1944, the date was fixed at March 4, 1946, 58 Stat. 114, and this was extended to March 31, 1947, by the act of June 3, 1946, Pub. L. No. 395, 79th Cong., 2d Sess. Extensionary legislation failed to

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