### Question
How does the law define debtor?


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

> a member of SIPC with respect to whom an application for a protective decree has been filed under section 78eee(a)(3) of this title or a direct payment procedure has been instituted under section 78fff–4(b) of this title

#### Citation:
  - *15 U.S.C. § 78lll*
  - Heading: **CHAPTER 2B&ndash;1-SECURITIES INVESTOR PROTECTION**

