Unknown claims against dissolved corporation
(1) A dissolved corporation may publish notice of the corporations dissolution and request that persons with claims against the corporation present the claims in accordance with the notice.
(2) The dissolved corporation must publish the notice:
(a) At least one time in a newspaper of general circulation in the county where the dissolved corporations principal office is located, or if the principal office is not in this state, where the dissolved corporations registered office is or was last located; or
(b) On the dissolved corporations website or in another location where the dissolved corporation maintains an electronic presence, if the website or other location will remain accessible to the public for at least 30 days.
(3) A notice that a dissolved corporation publishes under subsection (2) of this section must:
(a) Describe the information that must be included in a claim and provide a mailing address where the claim may be sent; and
(b) State that a claim against the dissolved corporation will be barred unless a proceeding to enforce the claim is commenced within five years after publication of the notice.
(4) If the dissolved corporation publishes a notice in accordance with subsection (2) of this section, 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 five years after the publication date of the notice:
(a) A claimant who did not receive written notice under ORS 65.641 (Known claims against dissolved corporation);
(b) A claimant whose claim was sent in a timely manner to the dissolved corporation but not acted on; or
(c) A claimant whose claim is contingent or based on an event occurring after the effective date of dissolution.
(5) A claim may be enforced under this section:
(a) Against the dissolved corporation, to the extent of the dissolved corporations undistributed assets; or
(b) Against any person, other than a creditor of the dissolved corporation, to whom the dissolved corporation distributed the dissolved corporations property in liquidation subject to the following:
(A) If the distributee received a pro rata share of a distribution, the distributees liability will not exceed the same pro rata share of the claim; and
(B) The distributees total liability for all claims under this section may not exceed the total amount of assets distributed to the distributee, less any liability of the dissolved corporation paid on behalf of the dissolved corporation by that distributee after the date of distribution. [1989 c.1010 §137; 2019 c.174 §94]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent. Currency Information