§ 23-18-9-8 — Claims

Indiana § 23-18-9-8

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 18: LIMITED LIABILITY COMPANIES
• Ch. 9: Voluntary Dissolution

Text

(a) As used in this section, "claim" does not
include a contingent liability or a claim based on an event occurring
after the date of dissolution.
(b) A dissolved limited liability company may dispose of the known
claims against it by following the procedure described in this section.
(c) The dissolved limited liability company shall notify known
claimants in writing of the dissolution at any time after the dissolution.
The written notice must contain the following:
(1) The amount that the dissolved limited liability company
believes will satisfy the claim.
(2) A statement that the creditor has the right to dispute the
amount of the claim and a description of the procedure for
disputing the amount of the claim.
(3) A mailing address where a dispute of the amount of the claim
may be sent.
(4) The deadline for receiving disputing claims. The deadline may
not be less than sixty (60) days after the effective date of the
written notice.
(5) A statement that the claim will be fixed at the amount
specified by the dissolved limited liability company if a dispute
of the amount of the claim is not received by the deadline.
(d) If the amount of the claim is disputed, the claimant must notify
the dissolved limited liability company of the dispute by the deadline.
If the dissolved limited liability company rejects the disputed amount,
the claimant must commence a proceeding to enforce the claim not
more than ninety (90) days after the effective date of the limited
liability company's rejection notice.
(e) The amount of the claim is fixed under one (1) of the following
conditions:
(1) The claimant does not notify the dissolved limited liability
company by the deadline.
(2) The claimant has notified the dissolved limited liability
company of a dispute and has received a rejection notice and does
not commence a proceeding within ninety (90) days from the
effective date of the rejection notice.
(f) Regardless of a dispute in the amount of the claim, the dissolved
limited liability company must tender to the claimant the amount of the
claim specified in the notice of the claim given under subsection (c) not
more 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.

Legislative History

As added by P.L.8-1993, SEC.301.