Crimes and Criminal Procedure - 18 USC Section 154

01/19/04

Sec. 154. Adverse interest and conduct of officers

A person who, being a custodian, trustee, marshal, or other
officer of the court -

(1) knowingly purchases, directly or indirectly, any property
of the estate of which the person is such an officer in a case
under title 11;

(2) knowingly refuses to permit a reasonable opportunity for
the inspection by parties in interest of the documents and
accounts relating to the affairs of estates in the person's
charge by parties when directed by the court to do so; or

(3) knowingly refuses to permit a reasonable opportunity for
the inspection by the United States Trustee of the documents and
accounts relating to the affairs of an estate in the person's
charge,
shall be fined under this title and shall forfeit the person's
office, which shall thereupon become vacant.

AMENDMENTS
1996 - Pub. L. 104-294 substituted "fined under this title" for
"fined not more than $5,000" in closing provisions.
1994 - Pub. L. 103-394 amended section generally. Prior to
amendment, section read as follows:
"Whoever, being a custodian, trustee, marshal, or other officer
of the court, knowingly purchases, directly or indirectly, any
property of the estate of which he is such officer in a case under
title 11; or
"Whoever being such officer, knowingly refuses to permit a
reasonable opportunity for the inspection of the documents and
accounts relating to the affairs of estates in his charge by
parties in interest when directed by the court to do so -
"Shall be fined under this title, and shall forfeit his office,
which shall thereupon become vacant."
Pub. L. 103-322 substituted "fined under this title" for "fined
not more than $500" in third par.
1978 - Pub. L. 95-598 struck out "referees and other" before
"officers" in section catchline, and in text struck out "Whoever
knowingly acts as a referee in a case in which he is directly or
indirectly interested; or" before "Whoever, being a" and "referee,
receiver," before "custodian" and substituted "case under title 11"
for "bankruptcy proceeding".

EFFECTIVE DATE OF 1994 AMENDMENT
Amendment by Pub. L. 103-394 effective Oct. 22, 1994, and not
applicable with respect to cases commenced under Title 11,
Bankruptcy, before Oct. 22, 1994, see section 702 of Pub. L.
103-394, set out as a note under section 101 of Title 11.

EFFECTIVE DATE OF 1978 AMENDMENT
Amendment by Pub. L. 95-598 effective Oct. 1, 1979, see section
402(a) of Pub. L. 95-598, set out as an Effective Date note
preceding section 101 of Title 11, Bankruptcy.

SAVINGS PROVISION
Amendment by section 314 of Pub. L. 95-598 not to affect the
application of chapter 9 (Sec. 151 et seq.), chapter 96 (Sec. 1961
et seq.), or section 2516, 3057, or 3284 of this title to any act
of any person (1) committed before Oct. 1, 1979, or (2) committed
after Oct. 1, 1979, in connection with a case commenced before such
date, see section 403(d) of Pub. L. 95-598, set out as a note
preceding section 101 of Title 11, Bankruptcy.

Last modified: April 12, 2006