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271B.14-070 Unknown claims against dissolved corporation.
(1)
(2)
(3)
(4)
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.
The notice shall:
(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 two (2) years after
the publication of the notice.
If the dissolved corporation publishes a newspaper notice in accordance with
subsection (2) of this section, the claim of each of the following claimants shall
be 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 did not receive written notice under KRS 271B.14-060;
(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.
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 a shareholder of
the dissolved corporation to the extent of his pro rata share of the claim or
the corporate assets distributed to him in liquidation, whichever is less,
but a shareholder's total liability for all claims under this section shall not
exceed the total amount of assets distributed to him.
Effective:January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 143, effective January 1, 1989.
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