§ 13.1-746.3. Director duties
A. The board of directors shall cause the dissolved corporation to apply its remaining assets to discharge or make reasonable provision for the payment of claims and make distributions of assets to shareholders after payment or provision for claims.
B. Directors of a dissolved corporation that has disposed of claims under § 13.1-746, 13.1-746.1 or 13.1-746.2 shall not be liable for breach of subsection A with respect to claims against the dissolved corporation that are barred or satisfied under § 13.1-746, 13.1-746.1 or 13.1-746.2.
(2005, c. 765.)
Sections: Previous 13.1-742 13.1-743 13.1-744 13.1-745 13.1-746 13.1-746.1 13.1-746.2 13.1-746.3 13.1-747 13.1-748 13.1-749 13.1-749.1 13.1-750 13.1-751 13.1-752 NextLast modified: April 16, 2009