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(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. Notwithstanding any local court rule, provision
of a
State constitution, any otherwise applicable nonbankruptcy
law, or any other requirement that representation at the
meeting of
creditors under subsection
(a) be
by an
attorney, a
creditors holding a
consumer debt or any representative of the
creditor (which may include an
entity or an employee of an
entity and may be a representative for more than 1
creditor) shall be permitted to appear at and participate
in the meeting of
creditors in a case under chapter
7 or
13, either alone or in conjunction with an
attorney for the
creditor. Nothing in this subsection shall be construed
to require any
creditor to be represented by an
attorney at any 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.
(e) Notwithstanding subsections
(a) and
(b), the
court, on the request of a party in interest and
after notice and a hearing, for cause may order that
the
United States trustee not convene a meeting of
creditors or
equity security holders if the
debtor has filed a plan as to which the
debtor solicited acceptances prior to the commencement
of the case.
(Pub. L. 95-598, Title I, § 101, Nov. 6, 1978, 92
Stat. 2564; Pub. L. 99-554, Title II, Subtitle A, § 212,
Oct. 27, 1986, 100 Stat. 3099; Pub. L. 103-394, Title
I, § 115, Oct. 22, 1994, 108 Stat. 4118; Pub. L.
109-8, Title IV, Subtitle A, §§
402,
413, April 20, 2005, 119 Stat. 104, 107.)
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