Michigan Laws 500.8144 – Distributions; manner of payment; distribution of assets in kind
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Terms Used In Michigan Laws 500.8144
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Creditor: is a person having a claim against the insurer, whether matured or unmatured, liquidated or unliquidated, secured or unsecured, absolute, fixed, or contingent. See Michigan Laws 500.8103
Under the court’s direction, the liquidator shall pay distributions in a manner that will assure the proper recognition of priorities and a reasonable balance between the expeditious completion of the liquidation and the protection of unliquidated and undetermined claims, including third party claims. Distribution of assets in kind may be made at valuations set by agreement between the liquidator and the creditor and approved by the court.