Vt. Stat. Ann. tit. 11, § 4109
Enforcement of claims against dissolved limited liability company
Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
A claim not barred under section 4108 of this title may be enforced against the dissolved limited liability company:
A claim not barred under section 4108 of this title may be enforced against the dissolved limited liability company:
(1) to the extent of its undistributed assets, including any insurance assets held by the limited liability company that may be available to satisfy claims; or
(1) to the extent of its undistributed assets, including any insurance assets held by the limited liability company that may be available to satisfy claims; or
(2) if the assets have been distributed in liquidation, against a member of the dissolved company to the extent of the member’s proportionate share of the claim or the company’s assets distributed to the member in liquidation, whichever is less, but a member’s total liability for all claims under this section may not exceed the total amount of assets distributed to the member. Added 2015, No. 17, § 2.
(2) if the assets have been distributed in liquidation, against a member of the dissolved company to the extent of the member’s proportionate share of the claim or the company’s assets distributed to the member in liquidation, whichever is less, but a member’s total liability for all claims under this section may not exceed the total amount of assets distributed to the member.
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.