Connecticut § 38a-943 (Formerly Sec. 38-461). Secured creditor's claims.

Connecticut Statutes

§ 38a-943 — (Formerly Sec. 38-461). Secured creditor's claims.

Connecticut § 38a-943

Title 38aInsurance

Ch. 704cInsurers Rehabilitation and Liquidation Act and Termination of Domestic Life Insurance Companies

This text of Connecticut § 38a-943 ((Formerly Sec. 38-461). Secured creditor's claims.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 38a-943 (2026).

Text

(a)The value of any security held by a secured creditor shall be determined in one of the following ways, as the court may direct:

(1)By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditors; or (2) by agreement, arbitration, compromise or litigation between the creditor and the liquidator.

(b)The determination shall be under the supervision and control of the court with due regard for the recommendation of the liquidator. The amount so determined shall be credited upon the secured claim, and any deficiency shall be treated as an unsecured claim. If the claimant shall surrender his security to the liquidator, the entire claim shall be allowed as if unsecured.

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(a) The value of any security held by a secured creditor shall be determined in one of the following ways, as the court may direct: (1) By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditors; or (2) by agreement, arbitration, compromise or litigation between the creditor and the liquidator. (b) The determination shall be under the supervision and control of the court with due regard for the recommendation of the liquidator. The amount so determined shall be credited upon the secured claim, and any deficiency shall be treated as an unsecured claim. If the claimant shall surrender his security to the liquidator, the entire claim shall be allowed as if unsecured.