Common use of HISTORICAL AND REVISION NOTES LEGISLATIVE STATEMENTS Clause in Contracts

HISTORICAL AND REVISION NOTES LEGISLATIVE STATEMENTS. Section 705(a) of the House amendment adopts a pro- vision contained in the Senate amendment that limits a committee of creditors to not more than 11; the House xxxx contained no maximum limitation. SENATE REPORT NO. 95–989 This section is derived from section 44b of the Bank- ruptcy Act [section 72(b) of former title 11] without substantial change. It permits election by general unse- cured creditors of a committee of not fewer than 3 members and not more than 11 members to consult with the trustee in connection with the administration of the estate, to make recommendations to the trustee respecting the performance of his duties, and to submit to the court any question affecting the administration of the estate. There is no provision for compensation or reimbursement of its counsel. AMENDMENTS 1986—Subsec. (b). Pub. L. 99–554 inserted ‘‘or the United States trustee’’ in three places. EFFECTIVE DATE OF 1986 AMENDMENT Effective date and applicability of amendment by Pub. L. 99–554 dependent upon the judicial district in- volved, see section 302(d), (e) of Pub. L. 99–554, set out as a note under section 581 of Title 28, Judiciary and Judicial Procedure.