§ 23-17-22-6 — Claims against dissolved corporation; notice to claimants; limitation of actions

Indiana § 23-17-22-6

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 17: NONPROFIT CORPORATIONS
• Ch. 22: General Dissolution

Text

(a) A dissolved corporation may dispose of
the known claims against the corporation by following the procedure
described in this section.
(b) The dissolved corporation shall notify the corporation's known
claimants in writing of the dissolution at any time after the effective
date of the dissolution. The written notice must do the following:
(1) Specify the amount that the dissolved corporation believes
will satisfy the claim.
(2) Inform the creditor that the creditor has the right to dispute the
amount of the claim and describe the procedure for disputing the
amount of the claim.
(3) Provide a mailing address where a dispute of the amount of
the claim may be sent.
(4) State the deadline, which may not be less than sixty (60) days
after the effective date of the written notice, by which the
dissolved corporation must receive the dispute of the amount of
the claim.
(5) State that the claim will be fixed at the amount specified by
the dissolved corporation if a dispute of the amount of the claim
is not received by the deadline.
(c) If the amount of a claim is disputed, the claimant must notify the
dissolved corporation of the dispute by the deadline. If the dissolved
corporation rejects the disputed amount, the claimant must commence
a proceeding to enforce the claim not later than ninety (90) days after
the effective date of the dissolved corporation's rejection notice.
(d) The amount of the claim is fixed if:
(1) the claimant does not notify the dissolved corporation by the
deadline; or
(2) the claimant who has notified the dissolved corporation of a
dispute and has received a rejection notice does not commence a
proceeding not later than ninety (90) days from the effective date
of the rejection notice.
(e) Regardless of a dispute in the amount of a claim, the dissolved
corporation must tender to the claimant the amount of the claim set
forth by the dissolved corporation in the notice of claim not later than
thirty (30) days after the earlier of the following dates:
(1) The date that the claim becomes fixed.
(2) The date that the claimant commences the proceeding to
enforce the claim.
(f) 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.

Legislative History

As added by P.L.179-1991, SEC.1.