South Dakota Codified Laws 47-1A-1406.1. Bar on known claims against dissolved corporation
Current as of: 2023 | Check for updates
|
Other versions
A claim against the dissolved corporation is barred:
(1) If a claimant who was given written notice under § 47-1A-1406 does not deliver the claim to the dissolved corporation by the deadline; or
Terms Used In South Dakota Codified Laws 47-1A-1406.1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Proceeding: includes civil suit and criminal, administrative, and investigatory action. See South Dakota Codified Laws 47-1A-140
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
(2) If a claimant whose claim was rejected by the dissolved corporation does not commence a proceeding to enforce the claim within ninety days from the effective date of the rejection notice.
Source: SL 2005, ch 239, § 319.