# § 154. Adverse interest and conduct of officers
A person who, being a custodian, trustee, marshal, or other officer of the court—
**(1)** knowingly purchases, directly or indirectly, any property of the estate of which the person is such an officer in a case under title 11;
**(2)** knowingly refuses to permit a reasonable opportunity for the inspection by parties in interest of the documents and accounts relating to the affairs of estates in the person’s charge by parties when directed by the court to do so; or
**(3)** knowingly refuses to permit a reasonable opportunity for the inspection by the United States Trustee of the documents and accounts relating to the affairs of an estate in the person’s charge,
shall be fined under this title and shall forfeit the person’s office, which shall thereupon become vacant.
---
**Source Credit**: (June 25, 1948, ch. 645, 62 Stat. 690; Pub. L. 95–598, title III, § 314(a)(2), (e)(1), (2), Nov. 6, 1978, 92 Stat. 2676, 2677; Pub. L. 103–322, title XXXIII, § 330016(1)(G), Sept. 13, 1994, 108 Stat. 2147; Pub. L. 103–394, title III, § 312(a)(1)(A), Oct. 22, 1994, 108 Stat. 4139; Pub. L. 104–294, title VI, § 601(a)(1), Oct. 11, 1996, 110 Stat. 3497.)
### Historical and Revision Notes
Based on , U.S.C., 1940 ed., Bankruptcy (, ; (part), ).
Minor changes were made in phraseology.
## Editorial Notes
### Amendments
1996— substituted “fined under this title” for “fined not more than $5,000” in closing provisions.
1994— amended section generally. Prior to amendment, section read as follows:
“Whoever, being a custodian, trustee, marshal, or other officer of the court, knowingly purchases, directly or indirectly, any property of the estate of which he is such officer in a case under title 11; or
“Whoever being such officer, knowingly refuses to permit a reasonable opportunity for the inspection of the documents and accounts relating to the affairs of estates in his charge by parties in interest when directed by the court to do so—
“Shall be fined under this title, and shall forfeit his office, which shall thereupon become vacant.”
substituted “fined under this title” for “fined not more than $500” in third par.
1978— struck out “referees and other” before “officers” in section catchline, and in text struck out “Whoever knowingly acts as a referee in a case in which he is directly or indirectly interested; or” before “Whoever, being a” and “referee, receiver,” before “custodian” and substituted “case under title 11” for “bankruptcy proceeding”.
## Statutory Notes and Related Subsidiaries
### Effective Date of 1994 Amendment
Amendment by effective , and not applicable with respect to cases commenced under Title 11, Bankruptcy, before , see , set out as a note under .
### Effective Date of 1978 Amendment
Amendment by effective , see , set out as an Effective Date note preceding , Bankruptcy.
### Savings Provision
Amendment by not to affect the application of chapter 9 (§ 151 et seq.), chapter 96 (§ 1961 et seq.), or section 2516, 3057, or 3284 of this title to any act of any person (1) committed before , or (2) committed after , in connection with a case commenced before such date, see , set out as a note preceding , Bankruptcy.