An election of application of § 1111(b)(2) of the Code by a class of secured creditors in a chapter 9 or 11 case may be made at any time prior to the conclusion of the hearing on the disclosure statement or within such later time as the court may fix. If the disclosure statement is conditionally approved pursuant to Rule 3017.1, and a final hearing on the disclosure statement is not held, the election of application of § 1111(b)(2) may be made not later than the date fixed pursuant to Rule 3017.1(a)(2) or another date the court may fix. In a case under subchapter V of chapter 11 in which § 1125 of the Code does not apply, the election may be made not later than a date the court may fix. The election shall be in writing and signed unless made at the hearing on the disclosure statement. The election, if made by the majorities required by § 1111(b)(1)(A)(i), shall be binding on all members of the class with respect to the plan.
(As amended Apr. 11, 1997, eff. Dec. 1, 1997; Apr. 11, 2022, eff. Dec. 1, 2022.)
added in current removed in current
Compared to current version (2025).
An election of application of § 1111(b)(2) of the Code by a class of secured creditors i(a) Time for an Election.
(1) Chapter 9 or 11. In a cChapter 9 or 11 case may be made at any time prior to the conclusion of the hearing on the disclosure statement or within such later time as the court may fix, before a hearing on the disclosure statement concludes, a class of secured creditors may elect to apply § 1111(b)(2). If the disclosure statement is conditionally approved pursuant tounder Rule 3017.1, and a final hearing on the disclosure statemenit is not held, the election of application of § 1111(b)(2) may be made not later must be made withain the date fixed pursuant to Rule 3017.1(a)(2) or another date the court may fixtime provided in Rule 3017.1(a)(2). In either situation, the court may set another time for the election.
(2) Subchapter V of Chapter 11. In a case under sSubchapter V of cChapter 11 in which § 1125 of the Code does not apply, the election may be made not later than a date the court may fixsets.
(b) Signed Writing; Binding Effect. The election shall bmust be made in writing and signed, unless made at the hearing on the disclosure statement. TheAn election, if made by the majorities required by § 1111(b)(1)(A)(i), shall be is binding on all members of the class with respect to the plan.
(As amended Apr. 11, 1997, eff. Dec. 1, 1997; Apr. 11, 2022, eff. Dec. 1, 2022; Apr. 2, 2024, eff. Dec. 1, 2024.)