2009 Alabama Code
Title 10 — CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS.
Chapter 12 — LIMITED LIABILITY COMPANY ACT.
Section 10-12-43 Known claims against dissolved limited liability company.

Known claims against dissolved limited liability company.

REPEALED IN THE 2009 REGULAR SESSION BY ACT 2009-513, EFFECTIVE JANUARY 1, 2011. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.

(a) A dissolved limited liability company may dispose of the known claims against it by filing articles of dissolution pursuant to Section 10-12-42 and following the procedure described in this section.

(b) The dissolved limited liability company shall notify its known claimants in writing of the dissolution at any time after the filing of its articles of dissolution. The written notice shall:

(1) Describe information that must be included in a claim.

(2) Provide a mailing address where a claim may be sent.

(3) State the deadline, which may not be less than 120 days from the date of mailing of the written notice, by which the dissolved limited liability company shall receive the claim.

(4) State that the claim shall be barred if not received by the deadline.

(c) A claim against the dissolved limited liability company is barred in either of the following circumstances:

(1) If a claimant who was given written notice under subsection (b) does not deliver the claim to the dissolved limited liability company by the deadline.

(2) If a claimant whose claim was rejected in writing by the dissolved limited liability company does not commence a proceeding to enforce the claim within 180 days from the date of the rejection notice.

(d) 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.