13.1-746.2 - Court proceedings.
§ 13.1-746.2. Court proceedings.
A. A dissolved corporation that has complied with the notice requirements of§ 13.1-746.1 may file an application with the circuit court of the city orcounty where the dissolved corporation's principal office, or, if none in theCommonwealth, its registered office, is or was last located for adetermination of the amount and form of security to be provided for paymentof claims that (i) are contingent or have not been made known to thedissolved corporation or that are based on an event occurring after theeffective date of dissolution but that, based on the facts known to thedissolved corporation, are reasonably estimated to arise after the effectivedate of dissolution or (ii) are based on a liability the ultimate maturity ofwhich is more than 60 days after delivery of written notice to the claimantpursuant to subsection B of § 13.1-746. Provision need not be made for anyclaim that is or is reasonably anticipated to be barred under subsection C of§ 13.1-746.1.
B. Within 10 days after the filing of the application, notice of theproceeding shall be given by the dissolved corporation to each known claimantwhose claim is covered by the application.
C. The court may appoint a guardian ad litem to represent all claimants whoseidentities are unknown in any proceeding brought under this section. Thereasonable fees and expenses of such guardian, including all reasonableexpert witness fees, shall be paid by the dissolved corporation.
D. Provision by the dissolved corporation for security in the amount and theform ordered by the court under subsection A shall satisfy the dissolvedcorporation's obligations with respect to claims covered by that order, andsuch claims may not be enforced against a shareholder who received assets inliquidation.
(2005, c. 765; 2008, c. 91.)