Wisconsin Statutes 183.0704 – Known claims against dissolved limited liability company
Current as of: 2023 | Check for updates
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Terms Used In Wisconsin Statutes 183.0704
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
- in writing: includes any representation of words, letters, symbols or figures. See Wisconsin Statutes 990.01
- State: when applied to states of the United States, includes the District of Columbia, the commonwealth of Puerto Rico and the several territories organized by Congress. See Wisconsin Statutes 990.01
(1) Except as otherwise provided in sub. (4), a dissolved limited liability company may give notice of a known claim under sub. (2), which has the effect provided in sub. (3).
(2) A dissolved limited liability company may in a record notify its known claimants of the dissolution. The notice must do all of the following:
(a) Specify the information required to be included in a claim.
(b) State that a claim must be in writing and provide a mailing address to which the claim is to be sent.
(c) State the deadline for receipt of a claim, which may not be less than 120 days after the date the notice is effective under s. 183.0103 (5).
(d) State that the claim will be barred if not received by the deadline.
(3) A claim against a dissolved limited liability company is barred if the requirements of sub. (2) are met and any of the following applies:
(a) The claim is not received by the specified deadline.
(b) If the claim is timely received but rejected by the company, all of the following apply:
1. The company causes the claimant to receive a notice in a record stating that the claim is rejected and will be barred unless the claimant commences an action against the company to enforce the claim within 90 days after the notice is effective under s. 183.0103 (5).
2. The claimant does not commence the required action within 90 days after the notice of rejection is effective under s. 183.0103 (5).
(4) This section does not apply to a claim based on an event occurring after the date of dissolution, a liability that on that date is contingent, or a liability for an additional assessment under s. 71.74 or for sales and use taxes determined as owing under s. 77.59.