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(a)
The trustee shall distribute
customer property ratably
to customers on the basis and to the extent of such
customers' allowed
net equity
claims and in priority to all other
claims, except
claims of the kind specified in
section
507(a)(1)(2)
of this title that are attributable to the administration of such
customer property.
(b)(1) The trustee
shall distribute
customer property in excess of that
distributed under subsection
(a) of this section in
accordance with section
726 of this title.
(2) Except as provided
in section
510 of this title, if a
customer is not paid the full amount of such
customer's allowed
net equity
claim from
customer
property, the unpaid portion of such
claim is a
claim entitled to distribution under
section
726 of this title.
(c) Any cash or
security remaining after
the liquidation of a
security interest
created under a
security agreement
made by the
debtor, excluding property
excluded under section
741(4)(B) of this title, shall
be apportioned between the general estate and
customer
property in the same proportion as the general estate of the
debtor and
customer
property were subject to such
security
interest.
(Pub. L. 95-598,
Nov. 6, 1978, 92 Stat. 2614; Pub. L. 97-222, § 15, July 27, 1982,
96 Stat. 238; Pub. L. 98-353, title III, § 484, July 10, 1984, 98
Stat. 383; Pub. L.
109-8, Title XV,
§ 1502(a)(3), April 20,
2005, 119 Stat. 216.)
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