[Code of Federal Regulations]
[Title 17, Volume 1]
[Revised as of April 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR190.09]

[Page 631]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER I--COMMODITY FUTURES TRADING COMMISSION
 
PART 190_BANKRUPTCY--Table of Contents
 
Sec.  190.09  Member property.

    (a) Member property. ``Member property'' means, in connection with a 
clearing organization bankruptcy, the property which may be used to pay 
that portion of the net equity claim of a member which is based on its 
house account.
    (b) Scope of member property. Member property shall include all 
money, securities and property received, acquired, or held by a clearing 
organization to margin, guarantee or secure the proprietary account, as 
defined in Sec.  1.3(y) of this chapter, of a clearing member: Provided, 
however, That any guaranty deposit or similar payment or deposit made by 
such member and any capital stock, or membership of such member in the 
clearing organization shall also be included in member property after 
payment in full of that portion of the net equity claim of the member 
based on its customer account and of any obligations due the clearing 
organization which may be paid therefrom in accordance with the by-laws 
or rules of the clearing organization, including obligations due from 
the clearing organization to customers or other members.