UTAH CODE (Last Updated: January 16, 2015) |
Title 48. Partnership |
Chapter 2e. Utah Uniform Limited Partnership Act |
Part 8. Dissolution and Winding up |
§ 48-2e-806. Known claims against dissolved limited partnership.
Latest version.
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(1) Except as otherwise provided in Subsection (4), a dissolved limited partnership may give notice of a known claim under Subsection (2), which has the effect provided in Subsection (3). (2) A dissolved limited partnership may in a record notify its known claimants of the dissolution. The notice must: (a) specify the information required to be included in a claim; (b) state that a claim must be in writing and provide a mailing address to which the claim is to be sent; (c) state the deadline for receipt of a claim, which may not be less than 120 days after the date the notice is received by the claimant; (d) state that the claim will be barred if not received by the deadline; and (e) unless the limited partnership has been throughout its existence a limited liability limited partnership, state that the barring of a claim against the limited partnership will also bar any corresponding claim against any general partner or person dissociated as a general partner which is based on Section 48-2e-404. (3) A claim against a dissolved limited partnership is barred if the requirements of Subsection (2) are met, and: (a) the claim is not received by the specified deadline; or (4) 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.
Enacted by Chapter 412, 2013 General Session