11 U.S.C. § 744
Section 744 · Executory contracts
Amended 2 times on record
Applied in 9 court decisions — leading case 376 F. Supp. 956 - In Re of Oceana International, Inc. (1974)
Most recently applied in In re Chicago Construction Specialties, Inc. (May 2014)
How often courts cite this section
Court decisions citing this, by year.Markers show enactment, consequential amendments, and circuit splits over this section — watch for a citation surge after a change or a disagreement. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Notwithstanding section 365(d)(1) of this title, the trustee shall assume or reject, under section 365 of this title, any executory contract of the debtor for the purchase or sale of a security in the ordinary course of the debtor's business, within a reasonable time after the date of the order for relief, but not to exceed 30 days. If the trustee does not assume such a contract within such time, such contract is rejected.
Editorial notes U.S. Code · Office of the Law Revision Counsel
Historical and Revision Notes
Section 744 instructs the court to give the trustee a reasonable time, not to exceed 30 days, to assume or reject any executory contract of the stockbroker to buy or sell securities. Any contract not assumed within the time fixed by the court is considered to be rejected.
Amendments
1982—Pub. L. 97–222 inserted “but” after “relief,”.