The contractual right of a commodity broker or forward contract 
merchant to cause the liquidation of a commodity contract, as defined in 
section 761 of this title, or forward contract because of a condition of 
the kind specified in section 365(e)(1) of this title, and the right to 
a variation or maintenance margin payment received from a trustee with 
respect to open commodity contracts or forward contracts, shall not be 
stayed, avoided, or otherwise limited by operation of any provision of 
this title or by the order of a court in any proceeding under this 
title. As used in this section, the term ``contractual right'' includes 
a right set forth in a rule or bylaw of a clearing organization or 
contract market or in a resolution of the governing board thereof and a 
right, whether or not evidenced in writing, arising under common law, 
under law merchant or by reason of normal business practice.

(Added Pub. L. 97-222, Sec. 6(a), July 27, 1982, 96 Stat. 236; amended 
Pub. L. 101-311, title II, Sec. 205, June 25, 1990, 104 Stat. 270; Pub. 
L. 103-394, title V, Sec. 501(b)(7), Oct. 22, 1994, 108 Stat. 4143.)


                               Amendments

    1994--Pub. L. 103-394 substituted ``section 761 of this title'' for 
``section 761(4)''.
    1990--Pub. L. 101-311 inserted before period at end ``and a right, 
whether or not evidenced in writing, arising under common law, under law 
merchant or by reason of normal business practice''.


                    Effective Date of 1994 Amendment

    Amendment by Pub. L. 103-394 effective Oct. 22, 1994, and not 
applicable with respect to cases commenced under this title before Oct. 
22, 1994, see section 702 of Pub. L. 103-394, set out as a note under 
section 101 of this title.