136                                               LAWS OF MARYLAND                              [Ch. 11

SECURITY. IP PAYMENT IS NOT MADE ON THIS BASIS, IT SHALL
BE [[DONE AS DIRECTED]] MADE AS PROVIDED IN SUBSECTION
(B) OR (C) OF THIS SECTION.

(E) SECURITY EXHAUSTED.

IF DURING ADMINISTRATION, THE CREDITOR EXHAUSTS THE
SECURITY BEFORE RECEIVING PAYMENT, HE IS ENTITLED TO THE
FULL AMOUNT OF HIS ALLOWED CLAIM LESS THE AMOUNT REALIZED
UPON EXHAUSTING THE SECURITY.

(C) SECURITY IN WHOLE.

IF THE CREDITOR HAS NOT THEN EXHAUSTED, OR DOES NOT
HAVE THE RIGHT TO EXHAUST HIS SECURITY, HE IS ENTITLED TO
THE FULL AMOUNT OF HIS ALLOWED CLAIM LESS THE VALUE OF
THE SECURITY DETERMINED BY AGREEMENT, OR AS THE COURT
DETERMINES.

REVISOR'S NOTE: This section presently appears as
Art. 93, §8—111. A subsection is added for
organizational purposes. The only other
changes are in language and style.

8-112. CONTINGENT CLAIM.

(A)   CLAIM BECOMES ABSOLUTE.

IF A CONTINGENT CLAIM BECOMES ABSOLUTE BEFORE THE

DISTRIBUTION OF THE ESTATE, IT SHALL BE PAID IN THE SAME

MANNER AS ABSOLUTE CLAIMS OF THE SAME CLASS. IN OTHER
CASES, IF A PETITION IS FILED WITH THE COURT BY THE

PERSONAL REPRESENTATIVE OR THE CLAIMANT, THE COURT MAY

PROVIDE FOR PAYMENT IN THE MANNER PROVIDED IN SUBSECTIONS
(B), (C), (D), OR (E) OF THIS SECTION.

(B)   AGREEMENT OR ARBITRATION.

THE CREDITOR AND PERSONAL REPRESENTATIVE MAY
DETERMINE, BY AGREEMENT, ARBITRATION, OR COMPROMISE, THE
VALUE OF THE CLAIM ACCORDING TO ITS PROBABLE PRESENT
WORTH, AND, UPON APPROVAL BY THE COURT, IT MAY BE ALLOWED
AND PAID IN THE SAME MANNER AS AN ABSOLUTE CLAIM.

(C)   RETENTION OF FUNDS.

THE COURT MAY ORDER THE PERSONAL REPRESENTATIVE TO
MAKE DISTRIBUTION OF THE ESTATE EXCEPT FOR SUFFICIENT
FUNDS RETAINED TO PAY THE CLAIM IF AND WHEN IT BECOMES
ABSOLUTE.

(D)   LIABILITY OF DISTRIBUTEES.

THE COURT MAY ORDER DISTRIBUTION OF THE ESTATE AS