Indiana Statutes
§ 30-2-7-5 — Determination of value by secured creditor
(1)By collection. When the asset constituting
the security is an obligation for the payment of money, the secured
creditor may determine its value by collection or by exhausting his
remedies thereon and then surrendering the obligation to the liquidator.
(2)By creditor's sale. When the asset constituting the security is
something other than an obligation for the payment of money, the
secured creditor may determine its value by creditor's sale.
Formerly: Acts 1941, c.50, s.5.
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Nearby Sections
15
§ 30-1-2-1
Stocks; bonds; securities§ 30-1-2-2
Securities not listed; terms§ 30-1-4-1
Eligible investments§ 30-1-5-1
Securities; insurance§ 30-1-6-3
Bidding; report; hearing; endorsement§ 30-1-6-5
Acts conclusive; disaffirmance denied§ 30-1-7-2
Petition to execute options; prospectus§ 30-1-7-3
Hearing; order of court§ 30-1-7-4
Binding and conclusive; disaffirmance§ 30-1-8-1
Definitions