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Disposition of unmatured claims - 15 Pa. Cons. Stat. § 5994

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     § 5994.  Disposition of unmatured claims.
        (a)  Contractual claims.--The dissolved nonprofit corporation
     or successor entity shall offer any claimant whose contractual
     claim made pursuant to section 5992 (relating to notice to
     claimants) is contingent, conditional or unmatured, such
     security as the corporation or successor entity determines is
     sufficient to provide compensation to the claimant if the claim
     matures. The corporation or successor entity shall send the
     offer to the claimant by certified or registered mail, return
     receipt requested, within 90 days after receipt of the claim
     and, in all events, at least 30 days before the expiration of
     the two-year period specified in section 5979(a)(2) (relating to
     survival of remedies and rights after dissolution). A notice
     sent pursuant to this section shall include or be accompanied by
     a copy of this subchapter and of section 5979. If the claimant
     offered the security does not deliver to the corporation or
     successor entity a written notice rejecting the offer within 60
     days after mailing of the offer for security, the claimant shall
     be deemed to have accepted the security as the sole source from
     which to satisfy his claim against the corporation.
        (b)  Other claims.--Except as provided in section 5997(d)
     (relating to liability of directors), the holder of any other
     claim may bring an action against the dissolved corporation or
     its directors, members of an other body, officers or members
     within the time limited by section 5979(a).
     (Dec. 18, 1992, P.L.1333, No.169, eff. 60 days)

        Cross References.  Section 5994 is referred to in sections
     5979, 5995, 5997 of this title.

Last modified: November 27, 2007