17:30C-29 - Allowance of secured claims
17:30C-29.Ā Allowance of secured claims
No claim of any secured claimant shall be allowed at a sum greater than theĀ difference between the value of the claim without security and the value of theĀ security itself as of the date of the entry of the order of liquidation, orĀ such other date set by the court for fixation of rights and liabilities, unlessĀ the claimant shall surrender his security to the commissioner, in which eventĀ the claim shall be allowed in the full amount for which it is valued.
L.1975, c. 113, s. 29, June 3, 1975.
Ā
No claim of any secured claimant shall be allowed at a sum greater than theĀ difference between the value of the claim without security and the value of theĀ security itself as of the date of the entry of the order of liquidation, orĀ such other date set by the court for fixation of rights and liabilities, unlessĀ the claimant shall surrender his security to the commissioner, in which eventĀ the claim shall be allowed in the full amount for which it is valued.
L.1975, c. 113, s. 29, June 3, 1975.
Ā