### Question
How does the law define customer property?


### Answer
Under *15 U.S.C. § 78lll*, **customer property** is defined as:

> cash and securities (except customer name securities delivered to the customer) at any time received, acquired, or held by or for the account of a debtor from or for the securities accounts of a customer, and the proceeds of any such property transferred by the debtor, including property unlawfully converted

#### Citation:
  - *15 U.S.C. § 78lll*
  - Heading: **CHAPTER 2Bdash1-SECURITIES INVESTOR PROTECTION**

