Idaho § 30-29-1409 DIRECTOR DUTIES

Idaho Statutes

§ 30-29-1409 — DIRECTOR DUTIES

Idaho·Title 30 CORPORATIONS·Part 14 DISSOLUTION·Ch. 29 GENERAL BUSINESS CORPORATIONS

(a)Directors shall cause the dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions in liquidation of assets to shareholders after payment or provision for claims.

(b)Directors of a dissolved corporation that has disposed of claims under section 30-29-1406, 30-29-1407, or 30-29-1408, Idaho Code, shall not be liable for breach of subsection (a) of this section, with respect to claims against the dissolved corporation that are barred or satisfied under section 30-29-1406, 30-29-1407, or 30-29-1408, Idaho Code.

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(a) Directors shall cause the dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions in liquidation of assets to shareholders after payment or provision for claims.
(b) Directors of a dissolved corporation that has disposed of claims under section 30-29-1406, 30-29-1407, or 30-29-1408, Idaho Code, shall not be liable for breach of subsection (a) of this section, with respect to claims against the dissolved corporation that are barred or satisfied under section 30-29-1406, 30-29-1407, or 30-29-1408, Idaho Code.

Idaho § 30-29-1409 (DIRECTOR DUTIES) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.