§ 55A-14-08. Unknown and certain other claims against dissolved corporation.

307 words·~1 min read·/nc/chapter-55a/55a-14-08

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)A dissolved corporation may also publish notice of its dissolution and request that persons with claims against the corporation present them in accordance with the notice.

(b)The notice shall:

(1)Be published one time in a newspaper of general circulation in the county where the dissolved corporation's principal office (or, if there is none in this State, its registered office) is or was last located;

(2)Describe the information that shall be included in a claim and provide a mailing address where the claim may be sent; and

(3)State that a claim against the corporation will be barred unless a proceeding to enforce the claim is commenced within five years after the publication of the notice.

(c)If the dissolved corporation publishes a newspaper notice in accordance with subsection

(b)of this section, the claim of each of the following claimants is barred unless the claimant commences a proceeding to enforce the claim against the dissolved corporation within five years after the publication date of the newspaper notice:

(1)A claimant who did not receive written notice under G.S. 55A-14-07;

(2)A claimant whose claim was timely sent to the dissolved corporation but not acted on;

(3)A claimant whose claim is contingent or based on an event occurring after the effective date of dissolution.

(d)Nothing in this section shall bar:

(1)Any claim alleging the liability of the corporation; or

(2)Any proceeding or action to establish the liability of the corporation; or

(3)The recovery on any judgment against the corporation

to the extent that the corporation is protected by insurance coverage with respect to such claim, proceeding, or judgment. (1955, c. 1230; 1973, c. 314, s. 5; 1985 (Reg. Sess., 1986), c. 801, s. 41; 1993, c. 398, s. 1.)