New Hampshire Revised Statutes 402-C:43 – Secured Creditors’ Claims
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I. The value of any security held by a secured creditor shall be determined in one of the following ways, as the court directs:
(a) By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditor;
(b) By agreement, arbitration, compromise or litigation between the creditor and the liquidator.
II. The determination shall be under the supervision and control of the court. 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.
(a) By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditor;
Terms Used In New Hampshire Revised Statutes 402-C:43
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
(b) By agreement, arbitration, compromise or litigation between the creditor and the liquidator.
II. The determination shall be under the supervision and control of the court. 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.