Nebraska § 44-4841 - Secured creditor's claims.
Full text of Nebraska Revised Statutes of Nebraska § 44-4841 — Secured creditor's claims., with citation guidance and answers to common questions.
§ 44-4841. Secured creditor's claims.
(1) The value of any security held by a secured creditor shall be determined in one of the following ways, as the court may direct:
(a) By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditors; or
(b) By agreement, arbitration, compromise, or litigation between the creditor and the liquidator.
(2) The determination shall be under the supervision and control of the court with due regard for the recommendation of the liquidator. The amount so determined shall be credited upon the secured claim, and any deficiency shall be treated as an unsecured claim. If the claimant surrenders his or her security to the liquidator, the entire claim shall be allowed as if unsecured.
Frequently Asked Questions About Nebraska § 44-4841
What does Revised Statutes of Nebraska § 44-4841 cover?
Section 44-4841 ("Secured creditor's claims.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. 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 Nebraska § 44-4841?
A common citation format is "Revised Statutes of Nebraska § 44-4841" (Nebraska). 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 Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 44-4841 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska 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 Nebraska.