The value of the security to be credited upon such claim shall be determined by an appraiser appointed by the liquidator and approved by the court. Such claimant shall elect to accept the security or to release it to the liquidator.
Cal. Ins. Code § 1030
Proceedings in Cases of Insolvency and Delinquency
Amended by Stats. 1935, Ch. 291.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.