Directors shall cause the dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions of assets to shareholders after payment or provision for claims.
Directors of a dissolved corporation which has disposed of claims under Section 79-4-14.06, 79-4-14.07 or 79-4-14.08 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 79-4-14.06, 79-4-14.07 or 79-4-14.08.
Structure Mississippi Code
Title 79 - Corporations, Associations, and Partnerships
Chapter 4 - Mississippi Business Corporation Act
§ 79-4-14.01. Dissolution by incorporators or initial directors
§ 79-4-14.02. Dissolution by board of directors and shareholders
§ 79-4-14.03. Articles of dissolution
§ 79-4-14.04. Revocation of dissolution
§ 79-4-14.05. Effect of dissolution
§ 79-4-14.06. Known claims against dissolved corporation
§ 79-4-14.07. Unknown claims against dissolved corporation
§ 79-4-14.09. Payment of claims and distribution of assets of dissolved corporations; liability