South Dakota Codified Laws 47-1A-1407.1. Time for bringing action to enforce claim against dissolved corporation after notice publication
Current as of: 2023 | Check for updates
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If the dissolved corporation publishes a newspaper notice in accordance with § 47-1A-1407, 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:
(1) A claimant who was not given written notice under §§ 47-1A-1406 to 47-1A-1406.2, inclusive;
Terms Used In South Dakota Codified Laws 47-1A-1407.1
- 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) A claimant whose claim was timely sent to the dissolved corporation but not acted on;
(3) A claimant whose claim is contingent or based on an event occurring after the effective date of dissolution.
Source: SL 2005, ch 239, § 322.