2007 Minnesota Statutes

308B.971 BARRING OF CLAIMS.
    Subdivision 1. Claims barred. A person who is or becomes a creditor or claimant before,
during, or following the conclusion of dissolution proceedings, who does not file a claim or
pursue a remedy in a legal, administrative, or arbitration proceeding during the pendency of the
dissolution proceeding or has not initiated a legal, administrative, or arbitration proceeding before
the commencement of the dissolution proceedings and all those claiming through or under the
creditor or claimant, are forever barred from suing on that claim or otherwise realizing upon or
enforcing it, except as provided in this section.
    Subd. 2. Certain unfiled claims allowed. Within one year after articles of dissolution have
been filed with the secretary of state under this chapter or a dissolution order has been entered,
a creditor or claimant who shows good cause for not having previously filed the claim may
apply to a court in this state to allow a claim:
(1) against the cooperative to the extent of undistributed assets; or
(2) if the undistributed assets are not sufficient to satisfy the claim, the claim may be
allowed against a member to the extent of the distributions to members in dissolution received
by the member.
    Subd. 3. Omitted claims allowed. Debts, obligations, and liabilities incurred during
dissolution proceedings shall be paid or provided for by the cooperative before the distribution of
assets to a member. A person to whom this kind of debt, obligation, or liability is owed but is
not paid may pursue any remedy against the offenders, directors, or members of the cooperative
before the expiration of the applicable statute of limitations. This subdivision does not apply to
dissolution under the supervision or order of a court.
History: 2003 c 105 art 1 s 85