Minnesota § 60B.43 SECURED CREDITORS' CLAIMS

Minnesota Statutes

§ 60B.43 — SECURED CREDITORS' CLAIMS

Minnesota § 60B.43

PartINSURANCE

Ch. 60BREHABILITATION AND LIQUIDATION

This text of Minnesota § 60B.43 (SECURED CREDITORS' CLAIMS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 60B.43 (2026).

Text

Subdivision 1.Determining value of security. The value of any security held by a secured creditor shall be determined in one of the following ways, as the court directs:

(a)by converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditor; or

(b)by agreement, arbitration, compromise, or litigation between the creditor and the liquidator; or

(c)as to separate account assets, by converting the same into money and allocating the converted assets among the holders of contracts on a variable basis in accordance with the terms of said contracts. Subd. 2.Treatment of claims. The determination shall be under the supervision and control of the court. The amount so determined shall be credited upon the secured claim, and any

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Subdivision 1.Determining value of security.
The value of any security held by a secured creditor shall be determined in one of the following ways, as the court directs:
(a) by converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditor; or
(b) by agreement, arbitration, compromise, or litigation between the creditor and the liquidator; or
(c) as to separate account assets, by converting the same into money and allocating the converted assets among the holders of contracts on a variable basis in accordance with the terms of said contracts.

Subd. 2.Treatment of claims.
The determination shall be under the supervision and control of the court. The amount so determined shall be credited upon the secured claim, and any deficiency shall be treated as an unsecured claim. If the claimant surrenders the security to the liquidator, the entire claim shall be allowed as if unsecured.