42:2C-52 Claims against member or transferee barred unless filed within five years after limited liability company dissolved.
52.Claims Against Member or Transferee Barred Unless Filed Within Five Years After Limited Liability Company Dissolved.
a.A claimant, and all those claiming through or under the claimant, shall be forever barred from suing a member or transferee on any claim, or otherwise realizing upon or enforcing any claim against a member or transferee, unless an action is commenced against the member or transferee, pursuant to paragraph (2) of subsection d. of section 51 of this act, or otherwise, within five years after the limited liability company was dissolved.
b.This section shall not:
(1)apply to claims against members or transferees which are in litigation on the effective date of this section;
(2)operate to extend any otherwise applicable statute of limitations; or
(3) affect any rights of creditors under the "Uniform Fraudulent Transfer Act," R.S.25:2-20 et seq.
L.2012, c.50, s.52.
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Last modified: October 11, 2016