Section 500.8144 - Distributions; manner of payment; distribution of assets in kind.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.8144 Distributions; manner of payment; distribution of assets in kind.
Sec. 8144.
Under the court's direction, the liquidator shall pay distributions in a manner that will assure the proper recognition of priorities and a reasonable balance between the expeditious completion of the liquidation and the protection of unliquidated and undetermined claims, including third party claims. Distribution of assets in kind may be made at valuations set by agreement between the liquidator and the creditor and approved by the court.
History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990
Popular Name: Act 218