                                 CODE OF VIRGINIA

COURT PROCEEDINGS (§ 50-73.137:4)

A. A dissolved limited liability partnership that has published a notice under
&#xA7; 50-73.137:3 may file an application with the circuit court of the city or
county where the dissolved partnership&#8217;s principal office, 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
partnership or that are based on an event occurring after the effective date of
dissolution but that, based on the facts known to the dissolved partnership, 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; 50-73.137:3.

B. Within 10 days after the filing of the application, notice of the proceeding
shall be given by the dissolved partnership to each claimant holding a
contingent claim whose contingent claim is shown on the records of the dissolved
partnership.

C. The court may appoint a guardian ad litem to represent all claimants whose
identities are unknown in any proceeding brought under this section. The
reasonable fees and expenses of such guardian, including all reasonable expert
witness fees, shall be paid by the dissolved partnership.

D. Provision by the dissolved partnership for security in the amount and the
form ordered by the court under subsection A shall satisfy the dissolved
partnership&#8217;s obligations with respect to claims that do not meet the
definition of a claim in subsection D of &#xA7; 50-73.137:2, and such claims may
not be enforced against a partner who received assets in liquidation.

HISTORY: 2006, c. 912.