Under the direction of the court, the liquidator shall pay distributions in a manner that will assure the proper recognition of priorities and a reasonable balance between the expeditious completion of the liquidation and the protection of unliquidated and undetermined claims, including third party claims. Distribution of assets in kind may be made at valuations set by agreement between the liquidator and the creditor and approved by the court.
S.C. Code Ann. § 38-27-630
Distribution of assets
Known as the Insurers Rehabilitation and Liquidation Act
The act spans §§ 38–38 (62 sections).
Former 1976 Code SECTION 38-5-2330 [1982 Act No. 384, SECTION 44] recodified as SECTION 38-27-630 by 1987 Act No. 155, SECTION 1.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.