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New Jersey Statutes, Title: 14A, CORPORATIONS, GENERAL

    Chapter 12: Methods of dissolution

      Section: 14A:12-13.1: Creditors barred from suing shareholders of certain dissolved corporations.

          1. (1) A creditor as defined in subsection (3) of N.J.S.14A:12-12 or subsection (b) of N.J.S.14A:14-1, and all those claiming through or under the creditor, shall be forever barred from suing a shareholder on any claim, or otherwise realizing upon or enforcing any claim against a shareholder, unless that claim was filed against the shareholder, pursuant to N.J.S.14A:12-13 or N.J.S.14A:14-15, or otherwise, within five years after the corporation was dissolved.

(2) This section shall not: (a) apply to claims against shareholders which are in litigation on the effective date of this section; (b) operate to extend any otherwise applicable statute of limitations; or (c) affect any rights of creditors under the "Uniform Voidable Transactions Act," R.S.25:2-20 et seq.

L.2001, c.231, s.1; amended 2021, c.92, s.20.

This section added to the Rutgers Database: 2021-07-06 15:50:30.






Older versions of 14a:12-13.1 (if available):



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