Indiana § 27-9-3-39 - Valuation of security held by secured creditor
Full text of Indiana Indiana Code § 27-9-3-39 — Valuation of security held by secured creditor, with citation guidance and answers to common questions.
§ 27-9-3-39. Valuation of security held by secured creditor
Sec. 39. (a) The value of any security held by a secured creditor shall be determined in one (1) of the following ways, as the Marion County circuit court may direct:
(1) By converting the security into money according to the terms of the agreement under which the security was delivered to the creditors.
(2) By agreement, arbitration, compromise, or litigation between the creditor and the liquidator.
(b) The valuation determination shall be under the supervision and control of the Marion County circuit court with due regard for the recommendation of the liquidator. The amount 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.
As added by Acts 1979, P.L.255, SEC.1.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-9-3-39
What does Indiana Code § 27-9-3-39 cover?
Section 27-9-3-39 ("Valuation of security held by secured creditor") is part of the Indiana Code, the codified statutory law of Indiana. 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 Indiana § 27-9-3-39?
A common citation format is "Indiana Code § 27-9-3-39" (Indiana). 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 Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 27-9-3-39 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana 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 Indiana.