Statute · California Insurance Code
Cal. Ins. Code § 1029 — Proceedings in Cases of Insolvency and Delinquency
Cal. Ins. Code § 1029
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
A claim of a secured claimant shall not be allowed in a sum greater than the excess over the value of the security of the amount for which the claim would be allowable if unsecured, unless the claimant surrenders the security to the liquidator. Upon such surrender the claim may be allowed in the…
Citator
Cal. Ins. Code § 1029 — Proceedings in Cases of Insolvency and Delinquency is in force in the current edition of the Code, and nothing recorded condemns it.
A claim of a secured claimant shall not be allowed in a sum greater than the excess over the value of the security of the amount for which the claim would be allowable if unsecured, unless the claimant surrenders the security to the liquidator. Upon such surrender the claim may be allowed in the full amount for which it is valued.