Section 1706.473 | Claims against dissolved limited liability company.
(A) A dissolved limited liability company may dispose of any known claims against it by following the procedures described in division (B) of this section at any time after the effective date of the dissolution of the limited liability company.
(B) A dissolved limited liability company may give notice of its dissolution in a record to the holder of any known claim. The notice shall do all of the following:
(1) Identify the dissolved limited liability company;
(2) Describe the information required to be included in a claim;
(3) Provide a mailing address to which the claim is to be sent;
(4) State the deadline, by which the dissolved limited liability company must receive the claim. The deadline shall not be sooner than ninety days from the effective date of the notice.
(5) State that if not sooner barred, the claim will be barred if not received by the deadline.
(C) Unless sooner barred by any other statute limiting actions, a claim against a dissolved limited liability company is barred in either of the following circumstances:
(1) A claimant who was given notice under division (B) of this section does not deliver the claim to the dissolved limited liability company by the deadline.
(2) A claimant whose claim was rejected by the dissolved limited liability company does not commence a proceeding to enforce the claim within ninety days from the effective date of the rejected notice.
(D) For purposes of this section, "claim" includes an unliquidated claim, but does not include either of the following:
(1) A contingent liability that has not matured so that there is no immediate right to bring suit;
(2) A claim based on an event occurring after the effective date of dissolution.
(E) Nothing in this section shall be construed to extend any otherwise applicable statute or period of limitations.
Available Versions of this Section
- April 12, 2021 – Enacted by Senate Bill 276, 133rd General Assembly [ View April 12, 2021 Version ]