(a) A
creditor may vote for a candidate
for trustee only if such
creditor—
(1) holds an allowable,
undisputed, fixed, liquidated, unsecured
claim of a kind entitled to distribution
under section
726(a)(2),
726(a)(3),
726(a)(4),
752(a),
766(h), or
766(i) of this title;
(2) does not have an
interest materially adverse, other than an equity interest that is not substantial
in relation to such
creditor's interest
as a
creditor, to the interest of
creditors entitled to such distribution;
and
(3) is not an
insider.
(b) At the meeting of
creditors held under section
341 of this title,
creditors may elect one
person to serve as trustee in the
case if election of a trustee is requested by
creditors that may vote under subsection
(a) of this section, and that hold at least 20 percent
in amount of the
claims specified
in subsection (a)(1) of this section that are held
by creditors that may vote under
subsection (a) of this section.
(c) A candidate for trustee is elected
trustee if—
(1)
creditors holding at least 20 percent
in amount of the
claims of a kind
specified in subsection
(a)(1) of this section that
are held by
creditors that may vote
under subsection
(a) of this section vote; and
(2) such candidate
receives the votes of
creditors holding
a majority in amount of
claims specified
in subsection (a)(1) of this section that are held
by
creditors that vote for a trustee.
(d) If a trustee is not elected under this
section, then the interim trustee shall serve as trustee in the case.
(Pub. L. 95-598,
Nov. 6, 1978, 92 Stat. 2604; Pub. L. 97-222, § 7, July 27, 1982,
96 Stat. 237; Pub. L. 98-353, title III, § 472, July 10, 1984, 98
Stat. 380.)
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