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§ 4109 — Vermont Law | CourtGPT
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  4. Title 11 - Corporations, Partnerships and Associations/
  5. Chapter 25 - Limited Liability Companies§ 4001. Definitions/
  6. § 4109
Vermont Legal Code

§ 4109

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Enforcement of claims against dissolved limited liability company A claim not barred under section 4108 of this title may be enforced against the dissolved limited liability company: (1) to the extent of its undistributed assets, including any insurance assets held by the limited liability company that may be available to satisfy claims; or (2) if the assets have been distributed in liquidation, against a member of the dissolved company to the extent of the member’s proportionate share of the claim or the company’s assets distributed to the member in liquidation, whichever is less, but a member’s total liability for all claims under this section may not exceed the total amount of assets distributed to the member. (Added 2015, No. 17, § 2.)