2009 North Carolina Code
Chapter 55A - North Carolina Nonprofit Corporation Act.
§ 55A-14-08. Unknown and certain other claims against dissolved corporation.

§ 55A‑14‑08.  Unknown and certain other claims against dissolved corporation.

(a)        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.

(b)        The notice shall:

(1)        Be published one time in a newspaper of general circulation in the county where the dissolved corporation's principal office (or, if there is none in this State, its registered office) is or was last located;

(2)        Describe the information that shall be included in a claim and provide a mailing address where the claim may be sent; and

(3)        State that a claim against the corporation will be barred unless a proceeding to enforce the claim is commenced within five years after the publication of the notice.

(c)        If the dissolved corporation publishes a newspaper notice in accordance with subsection (b) 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 five years after the publication date of the newspaper notice:

(1)        A claimant who did not receive written notice under G.S. 55A‑14‑07;

(2)        A claimant whose claim was timely sent to the dissolved corporation but not acted on;

(3)        A claimant whose claim is contingent or based on an event occurring after the effective date of dissolution.

(d)        Nothing in this section shall bar:

(1)        Any claim alleging the liability of the corporation; or

(2)        Any proceeding or action to establish the liability of the corporation; or

(3)        The recovery on any judgment against the corporation

to the extent that the corporation is protected by insurance coverage with respect to such claim, proceeding, or judgment. (1955, c. 1230; 1973, c. 314, s. 5; 1985 (Reg. Sess., 1986), c. 801, s. 41; 1993, c. 398, s. 1.)