In proceedings to liquidate the assets and affairs of a nonprofit corporation, the court may require all creditors of the nonprofit corporation to file with the clerk of the court or with the receiver, in the form as the court may prescribe, proofs under oath of their respective claims. If the court requires the filing of claims, it shall fix a date, which shall be not less than four months from the date of the order, as the last day for the filing of claims, and shall prescribe the notice that shall be given to creditors and claimants of the date so fixed. Prior to the date so fixed, the court may extend the time for the filing of claims. Creditors and claimants failing to file proofs of claim on or before the date so fixed may be barred, by order of court, from participating in the distribution of the assets of the nonprofit corporation.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 3 - Nonprofit Corporations.
Section 10A-3-7.01 - Voluntary Dissolution - Procedure.
Section 10A-3-7.02 - Voluntary Dissolution - Distribution of Assets Generally.
Section 10A-3-7.03 - Voluntary Dissolution - Plan of Distribution of Assets.
Section 10A-3-7.04 - Voluntary Dissolution - Revocation of Voluntary Dissolution Proceedings.
Section 10A-3-7.05 - Voluntary Dissolution - Articles of Dissolution.
Section 10A-3-7.06 - Voluntary Dissolution - Filing of Articles of Dissolution.
Section 10A-3-7.07 - Involuntary Dissolution - Grounds.
Section 10A-3-7.08 - Involuntary Dissolution - Procedure; Notification to Attorney General.
Section 10A-3-7.09 - Involuntary Dissolution - Venue and Service of Process.
Section 10A-3-7.11 - Procedure in Liquidation of Corporation by Court.
Section 10A-3-7.12 - Liquidation - Qualification of Receivers.
Section 10A-3-7.13 - Liquidation - Filing of Claims in Liquidation Proceedings.
Section 10A-3-7.14 - Liquidation - Discontinuance of Liquidation Proceedings.
Section 10A-3-7.15 - Liquidation - Entry of Order of Involuntary Dissolution.
Section 10A-3-7.16 - Filing of Order of Dissolution.