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Ohio · Through 1983-03-07 (House Bill 830 - 114th General Assembly)

Ohio Rev. Code § 3903.41: Methods of determining value of security held by secured creditor.

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Where this section sits in the code
  1. Title 39 Insurance
  2. Chapter 3903 Reserve Valuation; Rehabilitation And Liquidation

(A) The value of any security held by a secured creditor shall be determined in one of the following ways, as the court may direct:

(1) By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditor;

(2) By agreement, arbitration, compromise, or litigation between the creditor and the liquidator.

(B) 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 surrenders his security to the liquidator, the entire claim shall be allowed as if unsecured.

Collected 2026-09-14T19:24:35Z. Source file · JSON

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