58-29B-160. Owner of secured claim--Elections.
82 words·~1 min read·
/sd/title-58/chapter-58-29/58-29b-160·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The owner of a secured claim against an insurer for which a liquidator has been appointed in this or any other state may surrender his security and file his claim as a general creditor, or the claim may be discharged by resort to the security in accordance with §§ 58-29B-122 and 58-29B-123 , in which case the deficiency, if any, shall be treated as a claim against the general assets of the insurer on the same basis as claims of unsecured creditors.