54-10-5. Obligation for payment of money as security--Determination of value.
37 words·~1 min read·
/sd/title-54/chapter-54-10/54-10-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.