There is a newer version
of
this Section
2017 Idaho Statutes
Title 30 - CORPORATIONS
Chapter 29 - GENERAL BUSINESS CORPORATIONS
Part 14 - DISSOLUTION
Section 30-29-1407 - OTHER CLAIMS AGAINST DISSOLVED CORPORATION.
Universal Citation: ID Code § 30-29-1407 (2017)
30-29-1407. OTHER CLAIMS AGAINST DISSOLVED CORPORATION. (1) A dissolved corporation may also publish notice of its dissolution and request that persons with claims against the dissolved 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 is or was located or, if none in this state, in Ada county;
(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 dissolved corporation will be barred unless a proceeding to enforce the claim is commenced within two (2) years after the publication of the notice.
(3) If the dissolved corporation publishes 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 two (2) years after the publication date of the newspaper notice:
(a) A claimant who was not given written notice under section 30-29-1406, Idaho Code;
(b) A claimant whose claim was timely sent to the dissolved corporation but not acted on;
(c) A claimant whose claim is contingent or based on an event occurring after the effective date of dissolution.
(4) A claim that is not barred by section 30-29-1406(3), Idaho Code, or subsection (3) of this section may be enforced:
(a) Against the dissolved corporation, to the extent of its undistributed assets; or
(b) Except as provided in section 30-29-1408(4), Idaho Code, if the assets have been distributed in liquidation, against a shareholder of the dissolved corporation to the extent of the shareholder’s pro rata share of the claim or the corporate assets distributed to the shareholder in liquidation, whichever is less, but a shareholder’s total liability for all claims under this section may not exceed the total amount of assets distributed to the shareholder.
History:
[30-29-1407, added 2015, ch. 243, sec. 69, p. 959.]
Disclaimer: These codes may not be the most recent version. Idaho may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
