Arizona § 44-1040 Discount of claims allowed but not due; amount payable on claim secured by collateral in possession of creditor

Arizona Statutes

§ 44-1040 — Discount of claims allowed but not due; amount payable on claim secured by collateral in possession of creditor

Arizona § 44-1040

Title 44Arizona Revised Statutes

Ch. 8TRANSACTIONS AND TRANSFERS AFFECTING THE INTEREST OF CREDITORS

Art. 3Assignments for the Benefit of Creditors

This text of Arizona § 44-1040 (Discount of claims allowed but not due; amount payable on claim secured by collateral in possession of creditor) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 44-1040 (2026).

Text

Claims not due may be allowed at their present value by discounting them at the rate of interest mentioned in the contract, if any, otherwise at the legal rate. If any creditor holds collateral or security of less value than his debt, the value thereof may be estimated by the assignee and only the difference between such value and the amount of the debt shall be allowed.

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