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Current as of January 01, 2023 | Updated by Findlaw Staff
(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 of the dissolution at any time after its effective date. The written notice shall:
(1) Describe information that shall be included in a claim;
(2) Provide a mailing address where a claim may be sent;
(3) State the deadline, which shall not be fewer than 120 days from the effective date of the written notice, by which the dissolved corporation shall receive the claim; and
(4) State that the claim will be barred if not received by the deadline.
(c) A claim against the dissolved corporation is barred:
(1) If the corporation does not receive the claim by the deadline from a claimant who received written notice under subsection (b) of this section; or
(2) If a claimant whose claim was rejected by written notice from the dissolved corporation does not commence a proceeding to enforce the claim within 90 days from the date of receipt 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.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 55A. North Carolina Nonprofit Corporation Act § 55A-14-07. Known claims against dissolved corporation - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-55a-north-carolina-nonprofit-corporation-act/nc-gen-st-sect-55a-14-07/
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 before relying on it for your legal needs.
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