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2018 Indiana Code
TITLE 30. Trusts and Fiduciaries
ARTICLE 2. GENERAL PROVISIONS
CHAPTER 7. Uniform Act Governing Secured Creditors' Dividends in Liquidation Proceedings
30-2-7-5. Determination of value by secured creditor
Universal Citation: IN Code § 30-2-7-5 (2018)
IC 30-2-7-5 Determination of value by secured creditor
Sec. 5. (1) By collection. When the asset constituting the security is an obligation for the payment of money, the secured creditor may determine its value by collection or by exhausting his remedies thereon and then surrendering the obligation to the liquidator.
(2) By creditor's sale. When the asset constituting the security is something other than an obligation for the payment of money, the secured creditor may determine its value by creditor's sale.
Formerly: Acts 1941, c.50, s.5.
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