8.25.060 Unknown claims against dissolved corporation.
(a) A dissolved corporation may also publish notice, and request that persons with claims against the corporation present them in accordance with the notice.
(b) The notice must:
(1) Be published one time in a newspaper of general circulation in the county where the dissolved corporation’s principal place of business is located, and in a newspaper of general circulation on the Reservation; and
(2) Describe information that must be included in a claim, and provide a mailing address where the claim may be sent; and
(3) Expressly state, in conspicuous language, that a claim against the corporation will be barred unless a proceeding to enforce the claim is commenced within two years after the publication of the notice.
(c) If the dissolved corporation publishes a newspaper notice in accordance with subsection (b) of this section the following claims are barred, unless the claimant commences a proceeding to enforce the claim against the dissolved corporation within two years from the publication date of the newspaper notice:
(1) The claimant did not receive written notice;
(2) The claimant timely sent a claim to the dissolved corporation, but has not acted thereon; or
(3) The claimant’s claim is contingent or based on an event occurring following the effective date of dissolution.
(d) A claim may be enforced under this section:
(1) Against the dissolved corporation, to the extent of its undistributed assets; or
(2) If corporate assets have already been distributed, against a shareholder, to the extent of his or her pro rata share of the claim, or fair market value of corporate assets received in distribution, whichever is less.
(e) A shareholder’s total liability for all claims arising under this section may not exceed the total amount of assets distributed to that shareholder. [Ord. 18 Part V § 6, adopted, 10/7/2008.]