§ 4109.
124 words·~1 min read·
/vt/title-11/chapter-25/4109A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 4109. Enforcement of claims against dissolved limited liability company
A claim not barred under section 4108 of this title may be enforced against the dissolved limited liability company:
(1)to the extent of its undistributed assets, including any insurance assets held by the limited liability company that may be available to satisfy claims; or
(2)if the assets have been distributed in liquidation, against a member of the dissolved company to the extent of the member’s proportionate share of the claim or the company’s assets distributed to the member in liquidation, whichever is less, but a member’s total liability for all claims under this section may not exceed the total amount of assets distributed to the member. (Added 2015, No. 17, § 2.)