§ 33. Value of security credited upon claims.
53 words·~1 min read·
/ny/debtor-creditor/secured-creditors/33A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 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.