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New Jersey Statutes Title 42. Partnerships and Partnership Associations 42 § 2C-52

Current as of January 01, 2024 | Updated by Findlaw Staff

Claims Against Member or Transferee Barred Unless Filed Within Five Years After Limited Liability Company Dissolved.

a. A claimant, and all those claiming through or under the claimant, shall be forever barred from suing a member or transferee on any claim, or otherwise realizing upon or enforcing any claim against a member or transferee, unless an action is commenced against the member or transferee, pursuant to paragraph (2) of subsection d. of section 51 of this act,  1 or otherwise, within five years after the limited liability company was dissolved.

b. This section shall not:

(1) apply to claims against members or transferees which are in litigation on the effective date of this section;

(2) operate to extend any otherwise applicable statute of limitations; or

(3) affect any rights of creditors under the “Uniform Voidable Transactions Act,” R.S.25:2-20 et seq.

1 L.2012, c. 50 (N.J.S.A. § 42:2C-51).
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Cite this article: FindLaw.com - New Jersey Statutes Title 42. Partnerships and Partnership Associations 42 § 2C-52 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-42-partnerships-and-partnership-associations/nj-st-sect-42-2c-52/

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