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Searching 2023-2024 Session

The Vermont Statutes Online

The Vermont Statutes Online does not include the actions of the 2024 session of the General Assembly. We expect them to be updated by November 1st.

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.

Title 11 : Corporations, Partnerships and Associations

Chapter 025 : Limited Liability Companies

Subchapter 007 : Winding up of Company Business

(Cite as: 11 V.S.A. § 4109)
  • § 4109. 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.)