Okla. Stat. tit. 54, § 54-500-807A
This is the official text of Okla. Stat. tit. 54, § 54-500-807A, part of Oklahoma’s Stat. tit. 54, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 54,." Browse the sections below, each linked to its official government source.
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Other claims against dissolved limited partnership
Official statutory text
OTHER CLAIMS AGAINST DISSOLVED LIMITED PARTNERSHIP.
(a) A dissolved limited partnership may publish notice of its
dissolution and request persons having claims against the limited
partnership to present them in accordance with the notice.
(b) The notice must:
(1) be published at least once in a newspaper of general
circulation in the county in which the dissolved limited
partnership’s principal office is located or, if it has none in this
state, in the county in which the limited partnership’s designated
office is or was last located;
(2) describe the information required to be contained in a
claim and provide a mailing address to which the claim is to be
sent;
(3) state that a claim against the limited partnership is
barred unless an action to enforce the claim is commenced within
five (5) years after publication of the notice; and
(4) unless the limited partnership has been throughout its
existence a limited liability limited partnership, state that the
barring of a claim against the limited partnership will also bar any
corresponding claim against any general partner or person
dissociated as a general partner which is based on Section 38 of
this act.
(c) If a dissolved limited partnership publishes a notice in
accordance with subsection (b) of this section, the claim of each of
the following claimants is barred unless the claimant commences an
action to enforce the claim against the dissolved limited
partnership within five (5) years after the publication date of the
notice:
(1) a claimant that did not receive notice in a record under
Section 68 of this act;
(2) a claimant whose claim was timely sent to the dissolved
limited partnership but not acted on; and
(3) a claimant whose claim is contingent or based on an event
occurring after the effective date of dissolution.
(d) A claim not barred under this section may be enforced:
(1) against the dissolved limited partnership, to the extent of
its undistributed assets;
(2) if the assets have been distributed in liquidation, against
a partner or transferee to the extent of that person’s proportionate
share of the claim or the limited partnership’s assets distributed
to the partner or transferee in liquidation, whichever is less, but
a person’s total liability for all claims under this paragraph does
Oklahoma Statutes - Title 54. Partnership Page 130
not exceed the total amount of assets distributed to the person as
part of the winding up of the dissolved limited partnership; or
(3) against any person liable on the claim under Section 38 of
this act.
(a) A dissolved limited partnership may publish notice of its
dissolution and request persons having claims against the limited
partnership to present them in accordance with the notice.
(b) The notice must:
(1) be published at least once in a newspaper of general
circulation in the county in which the dissolved limited
partnership’s principal office is located or, if it has none in this
state, in the county in which the limited partnership’s designated
office is or was last located;
(2) describe the information required to be contained in a
claim and provide a mailing address to which the claim is to be
sent;
(3) state that a claim against the limited partnership is
barred unless an action to enforce the claim is commenced within
five (5) years after publication of the notice; and
(4) unless the limited partnership has been throughout its
existence a limited liability limited partnership, state that the
barring of a claim against the limited partnership will also bar any
corresponding claim against any general partner or person
dissociated as a general partner which is based on Section 38 of
this act.
(c) If a dissolved limited partnership publishes a notice in
accordance with subsection (b) of this section, the claim of each of
the following claimants is barred unless the claimant commences an
action to enforce the claim against the dissolved limited
partnership within five (5) years after the publication date of the
notice:
(1) a claimant that did not receive notice in a record under
Section 68 of this act;
(2) a claimant whose claim was timely sent to the dissolved
limited partnership but not acted on; and
(3) a claimant whose claim is contingent or based on an event
occurring after the effective date of dissolution.
(d) A claim not barred under this section may be enforced:
(1) against the dissolved limited partnership, to the extent of
its undistributed assets;
(2) if the assets have been distributed in liquidation, against
a partner or transferee to the extent of that person’s proportionate
share of the claim or the limited partnership’s assets distributed
to the partner or transferee in liquidation, whichever is less, but
a person’s total liability for all claims under this paragraph does
Oklahoma Statutes - Title 54. Partnership Page 130
not exceed the total amount of assets distributed to the person as
part of the winding up of the dissolved limited partnership; or
(3) against any person liable on the claim under Section 38 of
this act.
Status: in_force · Read it on the official government site
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