N.D. Cent. Code § 10-33-115

This is the official text of N.D. Cent. Code § 10-33-115, 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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10-33-115. Claims barred - Exceptions

Official statutory text

10-33-115. Claims barred - Exceptions

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.

Status: in_force · Read it on the official government site

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