Section 48-64-110 - Directors to cause dissolved corporation to discharge or make reasonable provision for payment of claims and distributions of assets thereafter - Liability for breach

(a) Directors shall cause the dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions of assets after payment or provision for claims.(b) Directors of a dissolved corporation that has disposed of claims under § 48-64-107 or § 48-64-108 shall not be liable for breach of § 48-64-110(a) with respect to claims against the dissolved corporation that are barred or satisfied under § 48-64-107 or § 48-64-108.Added by 2014 Tenn. Acts, ch. 899, s 78, eff. 1/1/2015.