Indiana § 23-17-22-7 Claims against dissolved corporation; notice by publication; limitation
of actions; enforcement

Indiana Statutes

§ 23-17-22-7 — Claims against dissolved corporation; notice by publication; limitation of actions; enforcement

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

(a)A dissolved corporation may also publish notice of the corporation's dissolution and request that persons with claims against the corporation present the claims in accordance with the notice.

(b)The notice must do the following:

(1)Be published one (1) time in a newspaper of general circulation in the county where:

(A)the dissolved corporation's principal office is or was last located; or

(B)if the principal office is not located in Indiana, the corporation's registered office is or was last located.

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

(3)State that a claim against the corporation will be barred unless a proceeding to enforce the claim is commenced within two (2) years after publication of the not

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(a) A dissolved corporation may also publish
notice of the corporation's dissolution and request that persons with
claims against the corporation present the claims in accordance with
the notice.
(b) The notice must do the following:
(1) Be published one (1) time in a newspaper of general
circulation in the county where:
(A) the dissolved corporation's principal office is or was last
located; or
(B) if the principal office is not located in Indiana, the
corporation's registered office is or was last located.
(2) Describe the information that must be included in a claim and
provide a mailing address where the claim may be sent.
(3) State that a claim against the corporation will be barred unless
a proceeding to enforce the claim is commenced within two (2)
years after publication of the notice.
(c) If a dissolved corporation publishes a newspaper notice under
subsection (b), the claim of each of the following claimants is barred
unless the claimant commences a proceeding to enforce the claim
against the dissolved corporation not later than two (2) years after the
publication date of the newspaper notice:
(1) A claimant who did not receive written notice under section
6 of this chapter.
(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) A claim may be enforced under this section:
(1) against the dissolved corporation to the extent of the
corporation's undistributed assets; or
(2) if the assets have been distributed in liquidation, against a
person, other than a creditor of the corporation, to whom the
corporation distributed the corporation's property to the extent of
the distributee's pro rata share of the claim or the corporation
assets distributed to the person in liquidation, whichever is less.
The distributee's total liability for all claims under this section
may not exceed the total amount of assets distributed to the
distributee.

Indiana § 23-17-22-7 (Claims against dissolved corporation; notice by publication; limitation of actions; enforcement) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.