Lac Courte Oreilles Band of Lake Superior Chippewa Indians of Wisconsin - Tribal Law

Disclaimer: Although every effort is made to present current and accurate information, if you need an official version of the tribe’s laws, please contact the tribe.

To contact the Lac Courte Oreilles Band of Lake Superior Chippewa Indians of Wisconsin, visit the tribal court's website.

Lac Courte Oreilles Tribal Code of Law.

LLC.1.7.070 Unknown or Contingent Claims

A claim not barred under Section LLC.1.7.060 may be enforced:

(a) Against the dissolved LLC, to the extent of its undistributed assets.

(b) If the dissolved LLC's assets have been distributed in liquidation, against an Owner of the LLC, other than the Tribe, to the extent of the Owner's proportionate share of the claim or of the assets of the LLC distributed to the Owner in liquidation, whichever is less, but an Owner's total liability for all claims under this section may not exceed the total value of assets at the time distributed to the Owner.

Original url: https://law.lco-nsn.gov/us/nsn/lco/council/code/LLC.1.7.070

Powered by the non-profit Open Law Library.