§414-387  Unknown claims against dissolvedcorporation.  (a)  A dissolved corporation may also publish notice of itsdissolution and request that persons with claims against the corporationpresent them in accordance with the notice.

(b)  [Subsection effective until June 30,2010.  For subsection effective July 1, 2010, see below.]  The notice must:

(1)  Be published one time in a newspaper of generalcirculation in the county where the dissolved corporation's principal office(or, if none in this State, its registered office) is or was last located;

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

(3)  State that a claim against the corporation willbe barred unless a proceeding to enforce the claim is commenced within fiveyears after the publication of the notice.

(b)  [Subsection effective July 1, 2010. For subsection effective until June 30, 2010, see above.]  The notice must:

(1)  Be published one time in a newspaper of generalcirculation in the county where the dissolved corporation's principal office isor was located (or, if none in this State, in the city and county of Honolulu);

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

(3)  State that a claim against the corporation willbe barred unless a proceeding to enforce the claim is commenced within fiveyears after the publication of the notice.

(c)  If the dissolved corporation publishes anewspaper notice in accordance with subsection (b), the claim of each of thefollowing claimants is barred unless the claimant commences a proceeding toenforce the claim against the dissolved corporation within five years after thepublication date of the newspaper notice:

(1)  A claimant who did not receive written noticeunder section 414-386;

(2)  A claimant whose claim was timely sent to thedissolved corporation but not acted on;

(3)  A claimant whose claim is contingent or based onan event occurring after the effective date of dissolution.

(d)  A claim may be enforced under thissection:

(1)  Against the dissolved corporation, to the extentof its undistributed assets; or

(2)  If the assets have been distributed inliquidation, against a shareholder of the dissolved corporation to the extentof the shareholder's pro rata share of the shareholder claim or the corporateassets distributed to the shareholder in liquidation, whichever is less, but ashareholder's total liability for all claims under this section may not exceedthe total amount of assets distributed to such shareholder. [L 2000, c 244, ptof §1; am L 2009, c 55, §9]