48-2c-1307 - Enforcement of claims against dissolved company in winding up. - Utah Statutes

48-2c-1307. Enforcement of claims against dissolved company in winding up.
(1) A claim may be enforced:
(a) under Section 48-2c-1305 or 48-2c-1306 against a dissolved company in winding upto the extent of its undistributed assets; or
(b) against one or more members of the dissolved company to the extent the assets havebeen distributed to the members in winding up.
(2) The total liability for all claims under this section may not exceed the total value ofassets distributed to the members during winding up as that value is determined at the time ofdistribution.
(3) Any member required to return any portion of the value of assets received by thatmember during winding up shall be entitled to contribution from all other members. Thecontributions shall be in accordance with the respective rights and interests of the members andmay not exceed the value of the assets received in winding up.

Enacted by Chapter 260, 2001 General Session