490.1407 - OTHER CLAIMS AGAINST DISSOLVED CORPORATION.

        490.1407  OTHER CLAIMS AGAINST DISSOLVED      CORPORATION.         1.  A dissolved corporation may also publish notice of its      dissolution and request that persons with claims against the      dissolved corporation present them in accordance with the notice.         2.  The notice must meet all of the following requirements:         a.  Be published one time in a newspaper of general      circulation in the county where the dissolved corporation's principal      office or, if none in this state, its registered office is or was      last located.         b.  Describe the information that must be included in a claim      and provide a mailing address where the claim may be sent.         c.  State that a claim against the dissolved corporation will      be barred unless a proceeding to enforce the claim is commenced      within three years after the publication of the notice.         3.  If the dissolved corporation publishes a newspaper notice in      accordance with subsection 2, the claim of each of the following      claimants is barred unless the claimant commences a proceeding to      enforce the claim against the dissolved corporation within three      years after the publication date of the newspaper notice:         a.  A claimant who was not given written notice under section      490.1406.         b.  A claimant whose claim was timely sent to the dissolved      corporation but not acted on.         c.  A claimant whose claim is contingent or based on an event      occurring after the effective date of dissolution.         4.  A claim that is not barred by section 490.1406, subsection 2,      or subsection 3 of this section, may be enforced in either of the      following ways:         a.  Against the dissolved corporation, to the extent of its      undistributed assets.         b.  Except as provided in section 490.1408, subsection 4, if      the assets have been distributed in liquidation, against a      shareholder of the dissolved corporation to the extent of the      shareholder's pro rata share of the claim or the corporate assets      distributed to the shareholder in liquidation, whichever is less, but      a shareholder's total liability for all claims under this section      shall not exceed the total amount of assets distributed to the      shareholder in liquidation.  
         Section History: Recent Form
         89 Acts, ch 288, §151; 2002 Acts, ch 1154, §94, 125         Referred to in § 490.1408, 490.1409, 490.1421, 490.1433, 490.1434