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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>83300</law_id><section_number>13.1-908.2</section_number><catch_line>Court proceedings</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>13.1-904</reference><reference>13.1-908.1</reference><reference>13.1-908.3</reference><reference>13.1-911</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="13.1">Corporations</unit><unit label="chapter" level="2" order_by="1" identifier="10">Virginia Nonstock Corporation Act</unit><unit label="article" level="3" order_by="1" identifier="13">Dissolution</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> A dissolved <span class="dictionary">corporation</span> that has published a notice under &#xA7; <a class="law" title="Other claims against dissolved corporation" href="/13.1-908.1/">13.1-908.1</a> may file an application with the <span class="dictionary">circuit</span> <span class="dictionary">court</span> of the city or county where the dissolved <span class="dictionary">corporation</span>&#x2019;s <span class="dictionary">principal office</span>, or, if none in the Commonwealth, its registered office, is or was last located for a determination of the amount and form of security to be provided for payment of claims that are contingent or have not been made known to the dissolved <span class="dictionary">corporation</span> or that are based on an event occurring after the effective date of dissolution but that, based on the <span class="dictionary">facts</span> known to the dissolved <span class="dictionary">corporation</span>, are reasonably estimated to arise after the effective date of dissolution. Provision need not be made for any claim that is or is reasonably anticipated to be barred under subsection C of &#xA7; <a class="law" title="Other claims against dissolved corporation" href="/13.1-908.1/">13.1-908.1</a>. <a id="paragraph-298453" class="section-permalink" href="https://vacode.org/13.1-908.2/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> Within 10 days after the filing of the application, notice of the <span class="dictionary">proceeding</span> shall be given by the dissolved <span class="dictionary">corporation</span> to each claimant holding a <span class="dictionary">contingent claim</span> whose <span class="dictionary">contingent claim</span> is shown on the records of the dissolved <span class="dictionary">corporation</span>. <a id="paragraph-298454" class="section-permalink" href="https://vacode.org/13.1-908.2/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> The <span class="dictionary">court</span> may appoint a <span class="dictionary">guardian ad litem</span> to represent all claimants whose identities are unknown in any <span class="dictionary">proceeding</span> brought under this section. The reasonable fees and expenses of such guardian, including all reasonable <span class="dictionary">expert witness</span> fees, shall be paid by the dissolved <span class="dictionary">corporation</span>. <a id="paragraph-298455" class="section-permalink" href="https://vacode.org/13.1-908.2/#C"><i class="fa fa-link"/></a></p></section>
						<section id="D"><p><span class="prefix-number">D.</span> Provision by the dissolved <span class="dictionary">corporation</span> for security in the amount and the form ordered by the <span class="dictionary">court</span> under subsection A shall satisfy the dissolved <span class="dictionary">corporation</span>&#x2019;s obligations with respect to claims that do not meet the definition of a claim in subsection D of &#xA7; <a class="law" title="Known claims against dissolved corporation" href="/13.1-908/">13.1-908</a>, and such claims may not be enforced against a <span class="dictionary">member</span> who received <span class="dictionary">assets</span> in <span class="dictionary">liquidation</span>. <a id="paragraph-298456" class="section-permalink" href="https://vacode.org/13.1-908.2/#D"><i class="fa fa-link"/></a></p></section></text><history>2007, c. 925.</history><metadata></metadata></law>
