Manager duties.

Checkout our iOS App for a better way to browser and research.

(1) A manager shall cause the dissolved domestic entity to discharge or make reasonable provision for the payment of claims and make distributions of assets to owners after payment or provision for claims.

(2) A manager of a dissolved domestic entity that has disposed of claims under section 7-90-911, 7-90-912, or 7-90-914 is not liable for breach of subsection (1) of this section with respect to claims against the dissolved domestic entity that are barred or satisfied under section 7-90-911, 7-90-912, or 7-90-914.

Source: L. 2019: Entire section added, (SB 19-086), ch. 166, p. 1923, § 24, effective July 1, 2020.


Download our app to see the most-to-date content.