Texas Business Organizations Code - Section 11.358. Accelerated Procedure For Existing Claim Resolution
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§ 11.358. ACCELERATED PROCEDURE FOR EXISTING CLAIM
RESOLUTION. (a) A terminated filing entity may shorten the period
for resolving a person's existing claim against the entity by
giving notice by registered or certified mail, return receipt
requested, to the claimant at the claimant's last known address
that the claim must be resolved under this section.
(b) The notice required under Subsection (a) must:
(1) state the requirements of Subsections (c) and (d)
for presenting a claim;
(2) provide the mailing address to which the person's
claim against the terminated filing entity must be sent;
(3) state that the claim will be extinguished if
written presentation of the claim is not received at the address
given on or before the date specified in the notice, which may not
be earlier than the 120th day after the date the notice is mailed to
the person by the terminated filing entity; and
(4) be accompanied by a copy of this section.
(c) To assert a claim, a person who is notified by a
terminated filing entity that the person's claim must be resolved
under this section must present the claim in writing to the
terminated filing entity at the address given by the entity in the
notice.
(d) A claim presented under Subsection (c) must:
(1) contain the:
(A) identity of the claimant; and
(B) nature and amount of the claim; and
(2) be received by the terminated filing entity not
later than the date specified in the notice under Subsection
(b)(3).
(e) If a person presents a claim that meets the requirements
of this section, the terminated filing entity to whom the claim is
presented may give written notice to the person that the claim is
rejected by the terminated entity.
(f) Notice under Subsection (e) must:
(1) be sent by registered or certified mail, return
receipt requested, and addressed to the last known address of the
person presenting the claim;
(2) state that the claim has been rejected by the
terminated entity;
(3) state that the claim will be extinguished unless
an action on the claim is brought:
(A) not later than the 180th day after the date
the notice of rejection of the claim was mailed to the person; and
(B) not later than the third anniversary of the
effective date of the entity's termination; and
(4) state the date on which notice of the claim's
rejection was mailed and the effective date of the entity's
termination.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 11.351 11.352 11.353 11.354 11.355 11.356 11.357 11.358 11.359 11.401 11.402 11.403 11.404 11.405 11.406
Last modified: August 11, 2007
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