A bill to amend title 11 of the United States Code to provide an exception to certain provisions of such title relating to avoidable transfers.
Depositor Protection Act of 1987 - Prohibits a bankruptcy trustee from avoiding as a preferential transfer certain withdrawal transactions made by depositors or investors from accounts with certain financial institutions which issue savings obligations or accept deposits in the ordinary course of business.
Applies such prohibition to bankruptcy cases filed on or after March 9, 1983.
Introduced in House
Introduced in House
Referred to House Committee on The Judiciary.
Referred to Subcommittee on Monopolies and Commercial Law.
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