375.1222. Payment of claims--duties of liquidator.
Payment of claims--duties of liquidator.
375.1222. Under the direction of the court, the liquidatorshall pay distributions in a manner that will assure the properrecognition of the priorities and a reasonable balance betweenthe expeditious completion of the liquidation and the protectionof unliquidated and undetermined claims, including third partyclaims. Distribution of assets in kind may be made at valuationsset by agreement between the liquidator and the creditor andshall be approved by the court. This section shall be applicableto proceedings instituted before and after August 28, 1991.
(L. 1991 H.B. 385, et al. § 93, A.L. 1992 H.B. 1574)