N.D. Cent. Code § 10-32.1-52
This is the official text of N.D. Cent. Code § 10-32.1-52, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-32.1-52. Known claims against a dissolved limited liability company
Official statutory text
10-32.1-52. Known claims against a dissolved limited liability company
1. Except as otherwise provided in subsection 4, a dissolved limited liability company
may give notice of a known claim under subsection 2 that has the effect as provided in
subsection 3.
2. A dissolved limited liability company may in a record notify its known claimants of the
dissolution. The notice must:
a. Specify the information required to be included in a claim;
b. Provide a mailing address to which the claim is to be sent;
c. State the deadline for receipt of the claim, which may not be less than one
hundred twenty days after the date the notice is received by the claimant; and
d. State that the claim will be barred if not received by the deadline.
3. A claim against a dissolved limited liability company is barred if the requirements of
subsection 2 are met and:
a. The claim is not received by the specified deadline; or
b. If the claim is timely received but rejected by the company:
(1) The company causes the claimant to receive a notice in a record stating that
the claim is rejected and will be barred unless the claimant commences an
action against the company to enforce the claim within ninety days after the
claimant receives the notice of rejection; and
(2) The claimant does not commence the required action within the ninety days.
4. This section does not apply to a claim based on an event occurring after the effective
date of dissolution or a liability that on that date is contingent.
1. Except as otherwise provided in subsection 4, a dissolved limited liability company
may give notice of a known claim under subsection 2 that has the effect as provided in
subsection 3.
2. A dissolved limited liability company may in a record notify its known claimants of the
dissolution. The notice must:
a. Specify the information required to be included in a claim;
b. Provide a mailing address to which the claim is to be sent;
c. State the deadline for receipt of the claim, which may not be less than one
hundred twenty days after the date the notice is received by the claimant; and
d. State that the claim will be barred if not received by the deadline.
3. A claim against a dissolved limited liability company is barred if the requirements of
subsection 2 are met and:
a. The claim is not received by the specified deadline; or
b. If the claim is timely received but rejected by the company:
(1) The company causes the claimant to receive a notice in a record stating that
the claim is rejected and will be barred unless the claimant commences an
action against the company to enforce the claim within ninety days after the
claimant receives the notice of rejection; and
(2) The claimant does not commence the required action within the ninety days.
4. This section does not apply to a claim based on an event occurring after the effective
date of dissolution or a liability that on that date is contingent.
Status: in_force · Read it on the official government site
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