{"data":{"id":"us-dc/d.c.-code-31-1339","jurisdiction":"us-dc","citation":"D.C. Code § 31-1339","heading":"Secured creditor’s claims.","body":"(a)\nThe value of any security held by a secured creditor shall be determined in one of the following ways, as the court may direct:\n(1)\nBy converting the same into money according to the terms of the agreement pursuant to which the security was delivered to the creditors; or\n(2)\nBy agreement, arbitration, compromise, or litigation between the creditor and the liquidator.\n\n(b)\nThe 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 or her security to the liquidator, the entire claim shall be allowed as if unsecured.","path":["Title 31. Insurance and Securities.","Chapter 13. Insurers Rehabilitation and Liquidation Procedures."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/31-1339","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"a7f125eb48a07fc40290c4e8e72f6d3c30231e7aea0ea7e84af2d7af80142745","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-31-1338","next":"us-dc/d.c.-code-31-1340"},"notice":"GroundRules: Original legal text. Not legal advice."}