Tex. Bus. & Com. Code Section 23.20
Discount of Claim Not Due and Allowance of Secured Claim

(a)

The assignee may allow a claim which is not due at its present value by discounting it at the legal rate.

(b)

If a creditor holds collateral to secure his claim worth less than his claim, the assignee may estimate the value of the collateral and allow the creditor as a claim against the assigned estate only the difference between the value of the collateral and the amount of the claim.
Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1.

Source: Section 23.20 — Discount of Claim Not Due and Allowance of Secured Claim, https://statutes.­capitol.­texas.­gov/Docs/BC/htm/BC.­23.­htm#23.­20 (accessed Apr. 29, 2024).

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Accessed:
Apr. 29, 2024

§ 23.20’s source at texas​.gov