HP0341, LD 448, item 1, An Act To Allow a Valid Claim against a Dissolved Corporation

An Act To Allow a Valid Claim against a Dissolved Corporation

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 13-C MRSA §1407, sub-§3, as enacted by PL 2001, c. 640, Pt. A, §2 and affected by Pt. B, §7, is amended to read:

3. Claim barred. A claim against the dissolved corporation, other than a liquidated claim that is known to the corporation, has fully matured and is not disputed in good faith by the corporation, is barred:

A. If a claimant who was given written notice under subsection 2 does not deliver the claim to the dissolved corporation by the deadline; or

B. If a claimant whose claim was rejected by the dissolved corporation does not commence a proceeding to enforce the claim within 90 days after the effective date of the rejection notice.

Nothing in this subsection affects or prevents, to the limits of the insurance protection only, any proceeding to establish liability of the corporation for which the corporation is protected by liability insurance.

Sec. 2. 13-C MRSA §1408, sub-§3, as amended by PL 2003, c. 631, §23, is further amended to read:

3. Claim barred. 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 3 years after the publication date of the newspaper notice:

A. A claimant who was not given written notice under section 1407;

B. A claimant whose claim was timely sent to the dissolved corporation but not acted on; or

C. A claimant whose claim is contingent or is based on an event occurring after the effective date of dissolution.

summary

This bill allows a claim against a dissolved corporation when there is liability insurance available.

HP0341 LD 448	First Regular Session - 125th Maine Legislature		LR 1789 Item 1
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