N.Y. Debtor and Creditor Law 33 – Value of security credited upon claims
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§ 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.
Terms Used In N.Y. Debtor and Creditor Law 33
- Liquidator: means any person administering assets in any liquidation proceedings. See N.Y. Debtor and Creditor Law 30