17-6810. Same; payment of corporate debts; distribution to stockholders.
17-6810
17-6810. Same; payment of corporate debts;
distribution to stockholders.
The directors or, if appointed by the district court, the receivers of a
dissolved corporation, after payment of all allowances, expenses and costs, and
the satisfaction of all special and general liens upon the funds of the
corporation to the extent of their lawful priority, shall pay the other debts
due from the corporation, if the funds in their hands shall be sufficient
therefor, and if not, they shall distribute the same ratably among all the
creditors who shall prove their debts in the manner that shall be directed by
an order or decree of the court for that purpose. If there shall be any balance
remaining after the payment of the debts and necessary expenses, they shall
distribute and pay the same to and among those who shall be justly entitled
thereto, as having been stockholders of the corporation or
their legal representatives.
History: L. 1972, ch. 52, § 100;
L. 2004, ch. 143, § 61; Jan. 1, 2005.