§ 55-14-06. Known claims against dissolved corporation.
§55‑14‑06. Known claims against dissolved corporation.
(a) A dissolvedcorporation may dispose of the known claims against it by following theprocedure described in this section.
(b) The dissolvedcorporation shall notify its known claimants in writing of the dissolution atany time after its effective date. The written notice must:
(1) Describe informationthat must be included in a claim;
(2) Provide a mailingaddress where a claim may be sent;
(3) State the deadline,which may not be fewer than 120 days from the effective date of the writtennotice, by which the dissolved corporation must receive the claim; and
(4) State that the claimwill be barred if not received by the deadline.
(c) A claim against thedissolved corporation is barred:
(1) If the corporationdoes not receive the claim by the deadline from a claimant who received writtennotice under subsection (b); or
(2) If a claimant whoseclaim was rejected by written notice from the dissolved corporation does notcommence a proceeding to enforce the claim within 90 days from the date ofreceipt of the rejection notice.
(d) For purposes ofthis section, "claim" does not include a contingent liability or aclaim based on an event occurring after the effective date of dissolution. (1955,c. 1371, s. 1; 1973, c. 469, ss. 39, 40, c. 476, s. 193; 1989, c. 265, s. 1.)