2009 Iowa Code
Title 12 - Business Entities
Subtitle 2 - Business and Professional Corporations and Companies
CHAPTER 490 - BUSINESS CORPORATIONS
490.1406 - KNOWN CLAIMS AGAINST DISSOLVED CORPORATION.

        490.1406  KNOWN CLAIMS AGAINST DISSOLVED
      CORPORATION.
         1.  A dissolved corporation may dispose of the known claims
      against it by notifying its known claimants in writing of the
      dissolution at any time after its effective date.
         2.  The written notice must do all of the following:
         a.  Describe information that must be included in a claim.
         b.  Provide a mailing address where a claim may be sent.
         c.  State the deadline, which may not be fewer than one
      hundred twenty days from the effective date of the written notice, by
      which the dissolved corporation must receive the claim.
         d.  State that the claim will be barred if not received by the
      deadline.
         3.  A claim against the dissolved corporation is barred if either
      of the following occur:
         a.  A claimant who was given written notice under subsection 2
      does not deliver the claim to the dissolved corporation by the
      deadline.
         b.  A claimant whose claim was rejected by the dissolved
      corporation does not commence a proceeding to enforce the claim
      within ninety days from the effective date of the rejection notice.
         4.  For purposes of this section, "claim" does not include a
      contingent liability or a claim based on an event occurring after the
      effective date of dissolution.  

         89 Acts, ch 288, §150; 2002 Acts, ch 1154, §93, 125
         Referred to in § 490.1407, 490.1409, 490.1421, 490.1433, 490.1434