Title 14, Chapter 3, Section 1407
( 14-3-1407)
(a) A corporation that has filed a notice of intent to dissolve may
dispose of the known claims against it by following the procedure
described in this Code section. (b) The corporation in dissolution shall notify its known claimants
in writing of the dissolution proceedings at any time after the
filing of the notice of intent to dissolve. The written notice
must: (1) Describe information that must be included in a claim; (2) Provide a mailing address where a claim may be sent; (3) State the deadline, which may not be less than six months from
the effective date of the written notice, by which the dissolved
corporation must receive the claim; (4) State that the claim will be barred if not received by the
deadline; and (5) State that the corporation will give notice of acceptance or
rejection of all claims that are received in timely fashion within
six months of the deadline for receipt of claims. (c) A claim against a corporation in dissolution is barred: (1) If a claimant who was given written notice under subsection
(b) of this Code section does not deliver the claim to the
dissolved corporation by the deadline; or (2) If a claimant whose claim was rejected by the dissolved
corporation does not commence a proceeding to enforce the claim
within one year from the effective date of the rejection notice. (d) For purposes of this Code section, the term "claim" does not
include a contingent liability or a claim based on an event
occurring after the filing of the notice of intent to dissolve. |