2005 Idaho Code - 30-3-115 — UNKNOWN CLAIMS AGAINST DISSOLVED CORPORATION

                                  TITLE  30
                                 CORPORATIONS
                                  CHAPTER 3
                       IDAHO NONPROFIT CORPORATION ACT
    30-3-115.  UNKNOWN CLAIMS AGAINST DISSOLVED CORPORATION. (1) The directors
of 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.
    (2)  The notice must:
    (a)  Be published one (1) time in a newspaper of general circulation in
    the county where the dissolved corporation's principal office, or, if none
    in this state, its registered office, is or was last located;
    (b)  Describe the information that must be included in a claim and provide
    a mailing address where the claim may be sent; and
    (c)  State that a claim against the corporation will be barred unless a
    proceeding to enforce the claim is commenced within five (5) years after
    publication of the notice.
    (3)  If the directors of a dissolved corporation publish a newspaper
notice in accordance with subsection (2) 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 (5) years
after the publication date of the newspaper notice:
    (a)  A claimant who did not receive written notice under section 30-3-114,
    Idaho Code;
    (b)  A claimant whose claim was timely sent to the dissolved corporation
    but not acted on; and
    (c)  A claimant whose claim is contingent or based on an event occurring
    after the effective date of dissolution.
    (4)  A claim may be enforced under this section:
    (a)  Against the dissolved corporation to the extent of its undistributed
    assets; or
    (b)  If the assets have been distributed in liquidation, against any
    person, other than a creditor of the corporation, to whom the corporation
    distributed its property to the extent of the distributee's pro rata share
    of the claim or the corporate assets distributed to such person in
    liquidation, whichever is less, but the distributee's total liability for
    all claims under this section may not exceed the total amount of assets
    distributed to the distributee.