GroundRules
Miss. Code Ann. § 83-24-81: Value of security held by secured creditor; determination.
Where this section sits in the code
- Title 83. Insurance
- Chapter 24. Insurers Rehabilitation and Liquidation Act
(1) The value of any security held by a secured creditor shall be determined in one of the following ways, as the court may direct:
(a) By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditors; or
(b) By agreement, arbitration, compromise or litigation between the creditor and the liquidator.
(2) The determination shall be under the supervision and control of the court with due regard for the recommendation of the liquidator. The amount so determined shall be credited upon the secured claim, and any deficiency shall be treated as an unsecured claim. If the claimant shall surrender his security to the liquidator, the entire claim shall be allowed as if unsecured.
Collected 2026-10-27T05:54:33Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source