(a) Directors of a dissolved corporation shall cause the dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions of assets to shareholders after payment of or provision for claims.
(b) Directors of a dissolved corporation which has disposed of claims under section 33-886, 33-887 or 33-887a shall not be liable for breach of subsection (a) of this section with respect to claims against the dissolved corporation that are barred or satisfied under section 33-886, 33-887 or 33-887a.
(P.A. 03-18, S. 32.)
History: P.A. 03-18 effective July 1, 2003.
The obligations of a director of a dissolved corporation under section apply when, at the time of dissolution, plaintiff's claim had not been disposed of, but rather had been filed in small claims court and was disputed by defendant. 157 CA 297.