2019 Mississippi Code
Title 79 - Corporations, Associations, and Partnerships
Chapter 4 - Mississippi Business Corporation Act
Article 14 - Dissolution.
Subarticle A. Voluntary Dissolution.
§ 79-4-14.06. Known claims against dissolved corporation

Universal Citation:
MS Code § 79-4-14.06 (2019)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
  • (a) 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.

  • (b) The written notice must:

    • (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 fewer than one hundred twenty (120) days from the effective date of the written notice, by which the dissolved corporation must receive the claim; and

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

  • (c) A claim against the dissolved corporation is barred:

    • (1) If a claimant who was given written notice under subsection (b) does not deliver the claim to the dissolved corporation by the deadline; or

    • (2) If a claimant whose claim was rejected by the dissolved corporation does not commence a proceeding to enforce the claim within ninety (90) days from the effective 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.

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