§ 48-2c-1307. Enforcement of claims against dissolved company in winding up.

Latest version.

(1)

A claim may be enforced:

(a)	under Section 48-2c-1305 or 48-2c-1306 against a dissolved company in winding up to the extent of its undistributed assets; or

(b)	against one or more members of the dissolved company to the extent the assets have been distributed to the members in winding up.

(2)	The total liability for all claims under this section may not exceed the total value of assets distributed to the members during winding up as that value is determined at the time of distribution.

(3)

Any member required to return any portion of the value of assets received by that member during winding up shall be entitled to contribution from all other members. The contributions shall be in accordance with the respective rights and interests of the members and may not exceed the value of the assets received in winding up.

Enacted by Chapter 260, 2001 General Session

                    
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