Vt. Stat. tit. 11 § 4109

Current through L. 2024, c. 185.
Section 4109 - Enforcement of claims against 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
(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.

11 V.S.A. § 4109

Added 2015 , No. 17, § 2.