N.Y. DCD Law § 34
This is the official text of N.Y. DCD Law § 34, part of New York’s DCD Law — part of the compiled statutory law of New York, published by the state as "DCD Law." Browse the sections below, each linked to its official government source.
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Determination of value by secured creditor
Official statutory text
§ 34. Determination of value by secured creditor. The value of assets\nconstituting the security may be determined by one of the following\nmethods by the secured creditor:\n (1) By collection. When the asset constituting the security is an\nobligation for the payment of money, the secured creditor may determine\nits value by collection or by exhausting his remedies thereon and then\nsurrendering the obligation to the liquidator.\n (2) By creditor's sale. When the asset constituting the security is\nsomething other than an obligation for the payment of money, the secured\ncreditor may determine its value by creditor's sale.\n
Status: in_force · Read it on the official government site
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