SS · Business Corporations Act
Part 17 — Liquidation and Dissolution
227 Continuation of actions after dissolution
representatives of a shareholder.
(2) Subject to section 15.7, notwithstanding the dissolution of a
body corporate under this Act,
(a) a civil, criminal or admin istrative action or proceeding
commenced by or against the body corporate before its
RSA 2000
dissolution may be continued as if the body corporate had
not been dissolved,
(b) a civil, criminal or admin istrative action or proceeding may
be brought against the body corporate within 2 years after its
dissolution as if the body corporate had not been dissolved,
and
(c) any property that would have been available to satisfy any
judgment or order if the body corporate had not been
dissolved remains available for that purpose.
(3) Service of a document on a corporation after its dissolution
may be effected by serving the document on a person shown in the
last notice filed under section 106 or 113.
(4) Notwithstanding the dissolution of a body corporate under this
Act, a shareholder to whom any of its property has been distributed
in the liquidation is liable to any person claiming under subsection
(2) to the extent of the amount received by that shareholder on the
distribution, and an action to enforce that liability may be brought
within 2 years after the date of the dissolution of the body
corporate.
(5) The Court may order an action referred to in subsection (4) to
be brought against the persons who were shareholders as a class,
subject to any conditions the Court thinks fit and, if the plaintiff
establishes the plaintiff's claim, the Court may refer the
proceedings to a referee or other officer of the Court who may
(a) add as a party to the proceed ings before the referee or other
officer each person who was a shareholder found by the
plaintiff,
(b) determine, subject to subsection (4), the amount that each
person who was a shareholder shall contribute toward
satisfaction of the plaintiff's claim, and
(c) direct payment of the amounts so determined.
RSA 2000 cB-9 s227;2005 c8 s52