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NEW JERSEY STATUTES AND CODES

2A:46-4 - Value of security credited upon claims

2A:46-4.  Value of security credited upon claims
    Dividends paid to secured creditors shall be computed only upon the balance  due after the value of all security not exempt from the claims of unsecured  creditors and not released or surrendered to the liquidator, is determined and  credited upon the claim secured by it.
 
L.1951 (1st SS), c.344.

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