Legislation
SECTION 33
Value of security credited upon claims
Debtor & Creditor (DCD) CHAPTER 12, ARTICLE 2-A
§ 33. Value of security credited upon claims. Dividends paid to
secured creditors shall be computed only upon the balance due after the
value of all security not exempt from the claims of unsecured creditors
and not released or surrendered to the liquidator, is determined and
credited upon the claim secured by it.
secured creditors shall be computed only upon the balance due after the
value of all security not exempt from the claims of unsecured creditors
and not released or surrendered to the liquidator, is determined and
credited upon the claim secured by it.