§ 89. Proof of claims in case of primary and secondary liability; dividend
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 39 P.S. Insolvency and Assignments
39 P.S. § 89
§ 89. Proof of claims in case of primary and secondary liability; dividend
A creditor having a claim for which the insolvent is primarily liable, and others secondarily, may prove for his whole claim; but, if the insolvent is only secondarily liable, the value of the liability of the primary debtor shall be adjusted between the creditor and the assignee; or, if the valuation cannot be agreed on, the same shall be submitted to the appropriate tribunal, and a dividend shall only be awarded to the creditor on the difference between such value, so determined, and the amount of his claim.
Credits
1901, June 4, P.L. 404, § 28.
39 P.S. § 89, PA ST 39 P.S. § 89
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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