There is a newer version
of
this Section
2021 Arizona Revised Statutes
Title 44 - Trade and Commerce
§ 44-1040 - Discount of claims allowed but not due; amount payable on claim secured by collateral in possession of creditor
Universal Citation: AZ Rev Stat § 44-1040 (2021)
44-1040. Discount of claims allowed but not due; amount payable on claim secured by collateral in possession of creditor
Claims not due may be allowed at their present value by discounting them at the rate of interest mentioned in the contract, if any, otherwise at the legal rate. If any creditor holds collateral or security of less value than his debt, the value thereof may be estimated by the assignee and only the difference between such value and the amount of the debt shall be allowed.
Disclaimer: These codes may not be the most recent version. Arizona may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.