State Codes and Statutes

Statutes > Wisconsin > 183 > 183.0907

183.0907

183.0907 Known claims against dissolved limited liability company.

183.0907(1)

(1) In this section, "claim" does not include a contingent liability or a claim based on an event occurring after the effective date of dissolution and does not include liability of a limited liability company for an additional assessment under s. 71.74 or for sales and use taxes determined as owing under s. 77.59.

183.0907(1m)

(1m) Upon dissolution, a limited liability company may dispose of the known claims against it by filing articles of dissolution under s. 183.0906 and following the procedures in this section.

183.0907(2)

(2) A dissolved limited liability company may notify its known claimants in writing of the dissolution at any time after the effective date of its articles of dissolution. The written notice shall include all of the following:

183.0907(2)(a)

(a) A description of the pertinent information that must be included in a claim.

183.0907(2)(b)

(b) A mailing address where a claim may be sent.

183.0907(2)(c)

(c) The deadline, which may not be fewer than 120 days after the date of the written notice, by which the limited liability company must receive the claim.

183.0907(2)(d)

(d) A statement that the claim will be barred if not received by the deadline.

183.0907(3)

(3) A claim against the limited liability company is barred if any of the following occurs:

183.0907(3)(a)

(a) A claimant who was given written notice under sub. (2) does not deliver the claim, in writing, to the limited liability company by the deadline specified in the notice.

183.0907(3)(b)

(b) A claimant whose claim is rejected by the limited liability company does not commence a proceeding to enforce the claim within 90 days after receipt of the rejection notice.

183.0907(4)

(4) In order to be effective, a rejection of a claim shall be in writing.

183.0907 - ANNOT.

History: 1993 a. 112; 1995 a. 400.