375.978. Secured claim, may file as general creditor, may resort to security, deficiency treated, how.
Secured claim, may file as general creditor, may resort to security,deficiency treated, how.
375.978. The owner of a secured claim against an insurer forwhich a receiver has been appointed in this or any other statemay surrender his security and file his claim as a generalcreditor, or the claim may be discharged by resort to thesecurity, in which case the deficiency, if any, shall be treatedas a claim against the general assets of the insurer on the samebasis as claims of unsecured creditors. The amount of suchdelinquency shall be ascertained and determined in thedelinquency proceeding in the domiciliary state of such insurer.
(L. 1976 H.B. 1479 § 8)Effective 6-16-76