Section 10A-1-9.21 – Known Claims Against Dissolved Domestic Entity.
Section 10A-1-9.21 Known claims against dissolved domestic entity. (a) A dissolved domestic entity may dispose of the known claims against it by following the procedure described in subsection (b) at any time after the effective date of the dissolution of that dissolved domestic entity. (b) A dissolved domestic entity shall give notice of the dissolution […]
Section 10A-1-9.22 – Unknown Claims Against Dissolved Domestic Entity.
Section 10A-1-9.22 Unknown claims against dissolved domestic entity. (a) A dissolved domestic entity may publish notice of its dissolution and request that persons with claims against the dissolved domestic entity present them in accordance with the notice. (b) The notice authorized by subsection (a) must: (1) Be published at least one time in a newspaper […]
Section 10A-1-9.31 – Revocation of Voluntary Winding Up.
Section 10A-1-9.31 Revocation of voluntary winding up. (a) A domestic entity may revoke a voluntary decision to dissolve the entity by approval of the revocation in the manner and within the time specified in the chapter of this title governing the entity. If the chapter of this title does not specify a time within which […]
Section 10A-1-9.32 – Reinstatement.
Section 10A-1-9.32 Reinstatement. In addition to the grounds for reinstating a dissolved entity pursuant to the chapter of this title applicable to the entity, if the chapter of this title applicable to the entity does not provide for reinstatement, the entity may be reinstated if the legal existence of the entity is necessary to: (1) […]
Section 10A-1-9.01 – Applicability of This Article to Certain Entities.
Section 10A-1-9.01 Applicability of this article to certain entities. This article does not apply to business corporations, limited liability companies, general partnerships, and limited partnerships. (Act 2018-125, §5; Act 2019-94, §2.)
Section 10A-1-9.02 – Definitions.
Section 10A-1-9.02 Definitions. In this article, the following terms have the following meanings: (1) CLAIM. A right to payment, damages, or property, whether liquidated or unliquidated, accrued or contingent, matured or unmatured. (2) WINDING UP. The process of winding up the business and affairs of a domestic entity as a result of the occurrence of […]
Section 10A-1-9.11 – Event Requiring Winding Up of Domestic Entity.
Section 10A-1-9.11 Event requiring winding up of domestic entity. The dissolution of a domestic entity shall be as specified in the chapter of this title applicable to the entity. (Act 2009-513, p. 967, §75.)
Section 10A-1-9.12 – Winding Up Procedures.
Section 10A-1-9.12 Winding up procedures. (a) As soon as reasonably practicable after a domestic entity is dissolved, the domestic entity shall: (1) cease to carry on its business, except to the extent necessary to wind up its business; (2) collect and sell its property to the extent the property is not to be distributed in […]