{"data":{"id":"us-ar/ark.-code-ann.-4-27-1407","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-27-1407","heading":"Unknown claims against dissolved corporation.","body":"(a) A dissolved corporation may also publish notice of its dissolution and request that persons with claims against the corporation present them in accordance with the notice.\n(b) The notice must:\n(1) be published one (1) time in a newspaper of general circulation in the county where the dissolved corporation's principal office is or was last located or in a newspaper of general circulation in Pulaski County if the corporation did not have a principal office in this state;\n(2) describe the information that must be included in a claim and provide a mailing address where the claim may be sent; and\n(3) state that a claim against the corporation will be barred unless a proceeding to enforce the claim is commenced within five (5) years after the publication of the notice.\n(c) If the dissolved corporation publishes a newspaper notice in accordance with subsection (b) of this section, the claim of each of the following claimants is barred unless the claimant commences a proceeding to enforce the claim against the dissolved corporation within five (5) years after the publication date of the newspaper notice:\n(1) a claimant who did not receive written notice under § 4-27-1406;\n(2) a claimant whose claim was timely sent to the dissolved corporation but not acted on;\n(3) a claimant whose claim is contingent or based on an event occurring after the effective date of dissolution.\n(d) A claim may be enforced under this section:\n(1) against the dissolved corporation, to the extent of its undistributed assets; or\n(2) if the assets have been distributed in liquidation, against a shareholder of the dissolved corporation to the extent of his pro rata share of the claim or the corporate assets distributed to him in liquidation, whichever is less, but a shareholder's total liability for all claims under this section may not exceed the total amount of assets distributed to him.","path":["Title 4 Business and Commercial Law","Subtitle 3. Corporations and Associations","Chapter 27 Business Corporation Act of 1987","Subchapter 14 — Dissolution","Part A: Voluntary Dissolution"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.04.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17; absent from the newer snapshot, which serves other sections of this chapter, so it may since have been repealed or amended","retrieved_at":"2026-09-17T21:07:03Z","sha256":"1c7faf3e35321db6c3d4407b7a1ec0e8dbe4b9705d4b5607824090c811b20be7","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-27-1406","next":"us-ar/ark.-code-ann.-4-27-1420"},"notice":"GroundRules: Original legal text. Not legal advice."}