State Codes and Statutes
Statutes > New-jersey > Title-42 > Section-42-2b > 42-2b-49-242:2B-49.2. Creditors not complying barred from suing, exceptions
2.Any creditor who does not file a claim as provided within the time limit specified in the notice given pursuant to section 1 of this act, and all those claiming through the creditor or under the claim, shall be forever barred from suing on the claim or otherwise realizing upon or enforcing it except, in the case of a creditor who shows good cause for not having previously filed a claim, to the extent the Superior Court may allow:
a.against the limited liability company to the extent of any undistributed assets; or
b.if the undistributed assets are not sufficient to satisfy a claim, against a member to the extent of the member's ratable part of the claim, out of the assets of the limited liability company distributed to the member in dissolution.
This section shall not apply to claims which are in litigation on the date of the first publication of the notice pursuant to section 1 of this act.
L.2003,c.12,s.2.
