Nebraska § 44-4841 Secured creditor's claims

Nebraska Statutes

§ 44-4841 — Secured creditor's claims

Nebraska § 44-4841

Ch. 44Insurance

This text of Nebraska § 44-4841 (Secured creditor's claims) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 44-4841 (2026).

Text

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

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

(b)By agreement, arbitration, compromise, or litigation between the creditor and the liquidator.

(2)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 surrenders his or her security to the liquidator, the entire claim shall be allowed as if unsecured.

Free access — add to your briefcase to read the full text and ask questions with AI

(1) The value of any security held by a secured creditor shall be determined in one of the following ways, as the court may direct:
(a) By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditors; or
(b) By agreement, arbitration, compromise, or litigation between the creditor and the liquidator.
(2) 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 surrenders his or her security to the liquidator, the entire claim shall be allowed as if unsecured.