North Carolina § 58-30-215 - Secured creditor's claims.
Full text of North Carolina North Carolina General Statutes § 58-30-215 — Secured creditor's claims., with citation guidance and answers to common questions.
§ 58-30-215. Secured creditor's claims.
The value of any security held by a secured creditor shall be determined in one of the following ways, as the Court may direct: By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditors; or By agreement, arbitration, compromise or litigation between the creditor and the liquidator. 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 security to the liquidator, the entire claim shall be allowed as if unsecured. History (1989, c. 452, s. 1; 1991, c. 720, s. 68.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 58-30-215
What does North Carolina General Statutes § 58-30-215 cover?
Section 58-30-215 ("Secured creditor's claims.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. 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 North Carolina § 58-30-215?
A common citation format is "North Carolina General Statutes § 58-30-215" (North Carolina). 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 North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 58-30-215 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina 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 North Carolina.