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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) A claim under G.S. 55-14-06 or G.S. 55-14-07 may be enforced:
(1) Against the dissolved corporation, to the extent of its undistributed assets, including coverage under any applicable insurance policy, or
(2) Except as provided in G.S. 55-14-09(d), if the assets have been distributed in liquidation, against a shareholder of the dissolved corporation to the extent of the shareholder's pro rata share of the claim or the corporate assets distributed to the shareholder in liquidation, whichever is less, but a shareholder's total liability for all claims under this section may not exceed the total amount of assets distributed to the shareholder.
(b) Nothing in G.S. 55-14-06 or G.S. 55-14-07 shall extend any applicable period of limitation.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 55. North Carolina Business Corporation Act § 55-14-08. Enforcement of claims - last updated January 01, 2024 | https://codes.findlaw.com/nc/chapter-55-north-carolina-business-corporation-act/nc-gen-st-sect-55-14-08.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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