§ 10-33-115 — Claims barred - Exceptions

North Dakota § 10-33-115

• Jurisdiction: North Dakota
• Title 10: Corporations
• Ch. 10-33: Nonprofit Corporations

Text

1. A person who is or becomes a creditor or claimant at any time before, during, or
following the conclusion of dissolution proceedings, who does not file a claim or
pursue a remedy in a legal, administrative, or arbitration proceeding within the time
provided in section 10-33-101, 10-33-102, 10-33-106, 10-33-107, or 10-33-110, or has
not begun a legal, administrative, or arbitration proceeding before the beginning of the
dissolution proceedings, and a person claiming through or under the creditor or
claimant, is barred from suing on that claim or otherwise realizing upon or enforcing it,
except as provided in this section.
2. At any time within one year after articles of dissolution have been filed with the
secretary of state under subsection 4 of section 10-33-101 or subsection 1 of section
10-33-102 or a decree of dissolution has been entered, a creditor or claimant who
shows good cause for not having previously filed the claim may apply to a court in this
state to allow a claim against the corporation to the extent of undistributed assets.
3. All known contractual debts, obligations, and liabilities incurred during dissolution
proceedings must be paid by the corporation before the distribution of assets under

section 10-33-105. A person to whom this kind of debt, obligation, or liability is owed
but not paid may pursue any remedy against the officers or directors of the corporation
before the expiration of the applicable statute of limitations. This subsection does not
apply to dissolution under the supervision or order of a court.
4. All other statutory and common-law rights of persons who may bring claims of injury to
a person, including death, are not affected by dissolution under this chapter.