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.
Tenn. Code Ann. § 56-9-332
Payment of distributions by liquidator
Known as the Insurers Rehabilitation and Liquidation Act
The act spans §§ 56–56 (71 sections).
Applied in 1 court decision — leading case State Ex Rel. Sizemore v. United Physicians Insurance Risk Retention Group (2001)
Most recently applied in State Ex Rel. Sizemore v. United Physicians Insurance Risk Retention Group (April 2001)
Acts 1991, ch. 142, § 4.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.