Value of security credited upon claims

  1. Law
  2. New Jersey Revised Statutes
  3. Administration of Civil and Criminal Justice
  4. Value of security credited upon claims

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2A:46-4. 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.

L.1951 (1st SS), c.344.


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