South Carolina § 38-27-600 - Secured creditor's claims.
Full text of South Carolina South Carolina Code of Laws § 38-27-600 — Secured creditor's claims., with citation guidance and answers to common questions.
§ 38-27-600. Secured creditor's claims.
(a) The value of any security held by a secured creditor must be determined in one of the following ways, as the court may direct:
(1) by converting the same into money according to the terms of the agreement pursuant to which the security was delivered to the creditor; or
(2) by agreement, arbitration, compromise, or litigation between the creditor and the liquidator.
(b) The determination must be under the supervision and control of the court with due regard for the recommendation of the liquidator. The amount so determined must be credited upon the secured claim, and any deficiency is treated as an unsecured claim. If the claimant surrenders his security to the liquidator, the entire claim is allowed as if unsecured.
HISTORY: Former 1976 Code SECTION 38-5-2300 [1982 Act No. 384, SECTION 41] recodified as SECTION 38-27-600 by 1987 Act No. 155, SECTION 1.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 38-27-600
What does South Carolina Code of Laws § 38-27-600 cover?
Section 38-27-600 ("Secured creditor's claims.") is part of the South Carolina Code of Laws, the codified statutory law of South 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 South Carolina § 38-27-600?
A common citation format is "South Carolina Code of Laws § 38-27-600" (South 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 South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 38-27-600 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South 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 South Carolina.