§ 23-18-9-9 — Notice of dissolution

Indiana § 23-18-9-9

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

Text

(a) A dissolved limited liability company may
publish notice of its dissolution and request that persons with claims
against the limited liability company present them in accordance with
the notice.
(b) The notice must meet the following requirements:
(1) Be published one (1) time in a newspaper of general
circulation in the county where the dissolved limited liability
company's principal office, or if there is none in Indiana its
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 limited liability company will be
barred unless a proceeding to enforce the claim is commenced not
more than two (2) years after the publication of the notice.
(c) If the dissolved limited liability company publishes a notice in
accordance with 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 limited liability company not
more than two (2) years after the publication date of the notice:
(1) A claimant who did not receive written notice under section
8 of this chapter.
(2) A claimant whose claim was timely sent to the dissolved
limited liability company but not acted on.
(3) A claimant whose claim is contingent or based on an event
occurring after the date of dissolution.
(d) A claim may be enforced under this section:
(1) against the dissolved limited liability company to the extent of
its undistributed assets; or
(2) if the assets have been distributed in liquidation, against a
member of the dissolved limited liability company to the extent
of the member's pro rata share of the claim or the assets
distributed to the member in liquidation, whichever is less, but a
member's total liability for all claims under this section may not
exceed the total amount of assets distributed to the member.

Legislative History

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