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The United States Trustee Program is a component of the United States Department of Justice that is responsible for overseeing the administration of bankruptcy cases and private trustees. [1] The applicable federal law is found at 28 U.S.C. § 586 and 11 U.S.C. § 101 , et seq.
In the United States, a Trustee in Bankruptcy is a person who is appointed by the United States Trustee Program, a division of the United States Department of Justice. In limited circumstances, the creditors involved in a bankruptcy case can elect a trustee.
The trustee model of representation is a model of a representative democracy, frequently contrasted with the delegate model of representation. [1] In this model, constituents elect their representatives as ' trustees ' for their constituency .
For all bankruptcies (consumer or business) filed under Chapter 7, 12 or 13 of Title 11 of the United States Code (the Bankruptcy Code), a trustee (the "trustee in bankruptcy" or TIB) is appointed by the United States Trustee, an officer of the Department of Justice that is charged with ensuring the integrity of the bankruptcy system and with ...
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By law, the treasurer is the depositary officer of the United States with regard to deposits of gold, special drawing rights, [2] and financial gifts to the Library of Congress. [3] The treasurer also directly oversees the Bureau of Engraving and Printing (BEP) and the United States Mint, which respectively print and mint U.S. currency and coinage.
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The term "co-trustee" may fool either the bank trust officer or the individual co-trustee into thinking their roles are identical. If the roles are not further defined in the document, then their roles are legally the same. [34] As a practical matter however, the corporate trustee will nearly always do the custody work and keep the books.