§ 17-19-1407 — Known claims against dissolved corporation

(a) A dissolved corporation may dispose of the known
claims against it by following the procedure described in this
section.
(b) The dissolved corporation shall notify its known
claimants in writing by mail or private carrier or by personal
delivery of the dissolution at any time after its effective
date. The written notice shall:
(i) Describe information that shall be included in a
claim;
(ii) Provide a mailing address where a claim may be
sent;
(iii) State the deadline, which may not be fewer than
one hundred twenty (120) days from the effective date of the
written notice, by which the dissolved corporation shall receive
the claim; and
(iv) State that the claim will be barred if not
received by the deadline.
(c) A claim against the dissolved corporation is barred:
(i) If a claimant who was given written notice under
subsection (b) of this section does not deliver the claim to the
dissolved corporation by the deadline; or
(ii) If a claimant whose claim was rejected by the
dissolved corporation does not commence a proceeding to enforce
the claim within ninety (90) days from the effective date of the
rejection notice.
(d) 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.