16.01.350 Unknown Claims Against Dissolved Entity

(a) A dissolved Entity may also publish notice of its dissolution and request that persons with claims against the corporation present them in accordance with the notice.

(b) The notice must:

(1) be published one time in a newspaper of general circulation located on or near the Tribe's Territory;

(2) describe the information that must be included in a claim and provide a mailing address where the claim may be sent; and

(3) state that a claim against the corporation will be barred unless a proceeding to enforce the claim is commenced within three years after publication of the notice.

(c) If the dissolved corporation publishes a newspaper notice in accordance with subsection (b), the claim of each of the following claimants is barred unless the claimant commences a proceeding to enforce the claim against the dissolved Entity within five years after the publication date of the newspaper notice:

(1) a claimant who did not receive written notice under Section 16.01.340;

(2) a claimant whose claim was timely sent to the dissolved corporation but not acted upon; or

(d) a claimant whose claim is contingent or based on an event occurring after the effective date of dissolution.

(e) A claim may be enforced under this section:

(1) against the dissolved Entity, to the extent of its undistributed assets; or

(2) if the assets have been distributed in liquidation, against any person, other than a creditor of the Entity, to whom the Entity distributed its property to the extent of the distributee's pro rata share of the claim or the corporate assets distributed to such person in liquidation, whichever is less, but the distributee's total liability for all claims under this section may not exceed the total amount of assets distributed to the distributee.