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Current as of January 01, 2024 | Updated by FindLaw Staff
Dividends paid to secured creditors shall be computed only upon the balance due after the value of all security not exempt from the claims of unsecured creditors and not released or surrendered to the liquidator, is determined and credited upon the claim secured by it.
Cite this article: FindLaw.com - New York Consolidated Laws, Debtor and Creditor Law - DCD § 33. Value of security credited upon claims - last updated January 01, 2024 | https://codes.findlaw.com/ny/debtor-and-creditor-law/dcd-sect-33/
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