30-29-1409. DIRECTOR DUTIES. (a) Directors shall cause the dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions in liquidation of assets to shareholders after payment or provision for claims.
(b) Directors of a dissolved corporation that has disposed of claims under section 30-29-1406, 30-29-1407, or 30-29-1408, Idaho Code, shall not be liable for breach of subsection (a) of this section, with respect to claims against the dissolved corporation that are barred or satisfied under section 30-29-1406, 30-29-1407, or 30-29-1408, Idaho Code.
History:
[30-29-1409, added 2015, ch. 243, sec. 69, p. 960; am. 2019, ch. 90, sec. 153, p. 324.]
Structure Idaho Code
Chapter 29 - GENERAL BUSINESS CORPORATIONS
Section 30-29-1401 - DISSOLUTION BY INCORPORATORS OR INITIAL DIRECTORS.
Section 30-29-1402 - DISSOLUTION BY BOARD OF DIRECTORS AND SHAREHOLDERS.
Section 30-29-1403 - ARTICLES OF DISSOLUTION.
Section 30-29-1404 - REVOCATION OF DISSOLUTION.
Section 30-29-1405 - EFFECT OF DISSOLUTION.
Section 30-29-1406 - KNOWN CLAIMS AGAINST DISSOLVED CORPORATION.
Section 30-29-1407 - OTHER CLAIMS AGAINST DISSOLVED CORPORATION.
Section 30-29-1408 - COURT PROCEEDINGS.
Section 30-29-1409 - DIRECTOR DUTIES.
Section 30-29-1430 - GROUNDS FOR JUDICIAL DISSOLUTION.
Section 30-29-1431 - PROCEDURE FOR JUDICIAL DISSOLUTION.
Section 30-29-1432 - RECEIVERSHIP OR CUSTODIANSHIP.
Section 30-29-1433 - DECREE OF DISSOLUTION.
Section 30-29-1434 - ELECTION TO PURCHASE IN LIEU OF DISSOLUTION.