11 USC 321 – Eligibility to serve as trustee
(a) A person may serve as trustee in a case under this title only if such person is—
(1) an individual that is competent to perform the duties of trustee and, in a case under chapter 7, 12, or 13 of this title, resides or has an office in the judicial district within which the case is pending, or in any judicial district adjacent to such district; or
(2) a corporation authorized by such corporation’s charter or bylaws to act as trustee, and, in a case under chapter 7, 12, or 13 of this title, having an office in at least one of such districts.
Terms Used In 11 USC 321
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
- Trustee: A person or institution holding and administering property in trust.
(b) A person that has served as an examiner in the case may not serve as trustee in the case.
(c) The United States trustee for the judicial district in which the case is pending is eligible to serve as trustee in the case if necessary.