There Is a Newer Version
of
the New York Laws
2021 New York Laws
DCD - Debtor and Creditor
Article 2-A - Secured Creditors
33 - Value of Security Credited Upon Claims.
Universal Citation:
NY Debt & Cred L § 33 (2021)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
§ 33. Value of security credited upon claims. 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.
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