Guam § 281406 - Known Claims Against Dissolved Corporation.

§ 281406. Known Claims Against Dissolved Corporation.

(a) A dissolved corporation may dispose of the known claims against it

by notifying its known claimants in writing of the dissolution at any time

after its effective date.

(b) The written notice must:

(1) describe information that must be included in a claim;

(2) provide a mailing address where a claim may be sent;

(3) state the deadline, which may not be fewer than 120 days from

the effective date of the written notice, by which the dissolved

corporation must receive the claim; and

(4) state that the claim will be barred if not received by the

deadline.

(c) A claim against the dissolved corporation is barred:

(1) If a claimant who was given written notice under

subsection (b) does not deliver the claim to the dissolved

corporation by the deadline;

(2) if a claimant whose claim was rejected by the dissolved

corporation does not commence a proceeding to enforce the claim

within 90 days from the effective date of the rejection notice.

(d) For purposes of this section, claim does not include a contingent

liability or a claim based on an event occurring after the effective date of

dissolution.