Arizona § 44-1040 - Discount of claims allowed but not due; amount payable on claim secured by collateral in possession of creditor
Full text of Arizona Arizona Revised Statutes § 44-1040 — Discount of claims allowed but not due; amount payable on claim secured by collateral in possession of creditor, with citation guidance and answers to common questions.
§ 44-1040. Discount of claims allowed but not due; amount payable on claim secured by collateral in possession of creditor
Claims not due may be allowed at their present value by discounting them at the rate of interest mentioned in the contract, if any, otherwise at the legal rate. If any creditor holds collateral or security of less value than his debt, the value thereof may be estimated by the assignee and only the difference between such value and the amount of the debt shall be allowed.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 44-1040
What does Arizona Revised Statutes § 44-1040 cover?
Section 44-1040 ("Discount of claims allowed but not due; amount payable on claim secured by collateral in possession of creditor") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 44-1040?
A common citation format is "Arizona Revised Statutes § 44-1040" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 44-1040 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.