|
Except as provided in
section
510 of this title, unless all
other
customer
net equity
claims have been paid in full, the
Trustee
may not pay in full or pay
in part, directly or indirectly, any
net equity
claim of a
customer
that was, on the date the transaction giving rise to such
claim occurred—
(1) an
insider;
(2) a beneficial owner
of at least five percent of any class of
equity securities of the
debtor, other than—
(A) nonconvertible
stock having fixed preferential dividend and liquidation rights; or
(B) interests of limited
partners in a limited partnership;
(3) a limited partner
with a participation of at least five percent in the net assets or net profits
of the
debtor; or
(4) an
entity that, directly or indirectly,
through agreement or otherwise, exercised or had the power to exercise control
over the management or policies of the
debtor.
(Pub. L. 95-598,
Nov. 6, 1978, 92 Stat. 2613; Pub. L. 97-222, § 13, July 27, 1982,
96 Stat. 238.)
|
