2013 District of Columbia Code
Division III — DECEDENTS' ESTATES AND FIDUCIARY RELATIONS
Title 20 — PROBATE AND ADMINISTRATION OF DECEDENTS' ESTATES
Chapter 9 — CLAIMS
Section 20-912 — Secured claim.
(a) A creditor having a secured claim who surrenders the security shall be paid on the basis of the full amount of the claim.
(b) A creditor having a secured claim who does not surrender the security shall be paid on the basis of one of the following:
(1) the full amount of the claim allowed less the amount realized upon exhausting the security, if the creditor, during the course of administration, exhausted the security before receiving payment; or
(2) the full amount of the claim allowed, less the value of the security determined by agreement or by the Court, if the creditor did not exhaust, or did not at the time have the right to exhaust, such security.
History
(June 24, 1980, D.C. Law 3-72, § 101, 27 DCR 2155.)
Annotations
Section References. This section is referenced in § 20-911.
Prior Codifications. 1981 Ed., § 20-912.
Legislative History of Law 3-72. For legislative history of D.C. Law 3-72, see Historical and Statutory Notes following § 20-901.
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