Utah Code Title 48. Partnership--Unincorporated Business Entities § 48-3a-705. Known claims against dissolved limited liability company

(1) A dissolved limited liability company in winding up may dispose of the known claims against it by following the procedures described in this section.

(2) A limited liability company in winding up, electing to dispose of known claims pursuant to this section, may give written notice of the limited liability company's dissolution to known claimants at any time after the effective date of the dissolution. The written notice must:

(3) Unless sooner barred by another state statute limiting actions, a claim against the dissolved limited liability company is barred if:

(4) Claims which are not rejected by the dissolved limited liability company in writing within 90 days after receipt of the claim by the dissolved limited liability company shall be considered approved.

(5) The failure of the dissolved limited liability company to give notice to any known claimant pursuant to Subsection (2) does not affect the disposition under this section of any claim held by any other known claimant.

(6) This section does not apply to a claim based on an event occurring after the effective date of dissolution or a liability that on that date is contingent.