# § 745. Treatment of accounts
**(a)** Accounts held by the debtor for a particular customer in separate capacities shall be treated as accounts of separate customers.
**(b)** If a stockbroker or a bank holds a customer net equity claim against the debtor that arose out of a transaction for a customer of such stockbroker or bank, each such customer of such stockbroker or bank shall be treated as a separate customer of the debtor.
**(c)** Each trustee’s account specified as such on the debtor’s books, and supported by a trust deed filed with, and qualified as such by, the Internal Revenue Service, and under the Internal Revenue Code of 1986, shall be treated as a separate customer account for each beneficiary under such trustee account.
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**Source Credit**: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2613; Pub. L. 97–222, § 11, July 27, 1982, 96 Stat. 238; Pub. L. 98–353, title III, § 483, July 10, 1984, 98 Stat. 383; Pub. L. 103–394, title V, § 501(d)(28), Oct. 22, 1994, 108 Stat. 4146.)
### Historical and Revision Notes
### senate report no. 95–989
Section 745(a) indicates that each account held by a customer in a separate capacity is to be considered a separate account. This prevents the offset of accounts held in different capacities.
Subsection (b) indicates that a bank or another stockbroker that is a customer of a debtor is considered to hold its customers accounts in separate capacities. Thus a bank or other stockbroker is not treated as a mutual fund for purposes of bulk investment. This protects unrelated customers of a bank or other stockholder from having their accounts offset.
Subsection (c) effects the same result with respect to a trust so that each beneficiary is treated as the customer of the debtor rather than the trust itself. This eliminates any doubt whether a trustee holds a personal account in a separate capacity from his trustee’s account.
## Editorial Notes
### References in Text
The Internal Revenue Code of 1986, referred to in subsec. (c), is classified generally to Title 26, Internal Revenue Code.
### Amendments
1994—Subsec. (c). substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954 ( et seq.)”.
1984—Subsec. (a). inserted “the debtor for” after “by”.
1982—Subsec. (c). substituted “Each” for “A”.
## Statutory Notes and Related Subsidiaries
### Effective Date of 1994 Amendment
Amendment by effective , and not applicable with respect to cases commenced under this title before , see , set out as a note under .
### Effective Date of 1984 Amendment
Amendment by effective with respect to cases filed 90 days after , see , set out as a note under .