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Can you summarize SCCL 34-7-20?

REORGANIZATION OF INSOLVENT BANKS > Effect of reorganization plan on claims of depositors and unsecured creditors.

Short Summary

Any such reorganization plan may authorize the reduction of the claims of depositors and unsecured creditors, postpone the payment thereof or provide for such payment in installments as will appear to be to the best interest of the parties interested. In any such plan all claims or demands of the same class shall be treated alike. HISTORY: 1962 Code Section 8-312; 1952 Code Section 8-312; 1942 Code Section 7874; 1932 (37) 1183.

Jurisdiction

South Carolina

Source
SCCL 34-7-20 [https://reggi.cloud.regology.com/regulations/US-SCCL/US-SCCL_T_34_C_7_S_20]