Title 14, Chapter 4, Section 161
( 14-4-161)
(a) The dissolution of a corporation either as a result of the
expiration of its charter or for any other cause shall not bring
about its total extinction nor operate to extinguish any demand or
cause of action against it in favor of any person whomsoever,
whether arising from contract or tort; nor shall such dissolution
work the abatement of any action pending against it at the time of
such dissolution; but all such pending actions may be prosecuted and
enforced to a conclusion as though such corporation were still
undissolved. (b) Actions for the enforcement of any demand or cause of action due
by a dissolved corporation may to a like extent be instituted and
enforced against it in any court having jurisdiction thereof at the
time of its dissolution; and service thereon may be perfected either
by seizure of the property of such corporation, by any form of legal
process, or by serving with process issued upon said actions any
person who, as an agent or officer of such corporation, was subject
to be served as its officer or agent at the time of such
dissolution. |