15-3-155. DISTRIBUTIONS BY PUBLIC BENEFIT CORPORATIONS.

1. A public benefit corporation shall give the Directors of Corporations written notice that it intends to dissolve 10 days before the time it delivers articles of dissolution to the Director of Corporations. The notice shall include a copy or summary of the plan of dissolution.
2. No assets shall be transferred or conveyed by a public benefit corporation as part of the dissolution process until twenty days after it has given written notice as required by subsection (a) to the Director of Corporations or until the Director of Corporations has consented in writing to, or indicated in writing that it will take no action with respect to, the transfer or conveyance, whichever is earlier.
3. Prior to the expiration of the 20 day period described in subsection (b), the Director of Corporations may bring an action in Tribal Court to challenge the planned distribution of assets, and the Tribal Court may enjoin any distribution pending the outcome of the action.
4. When all or substantially all of the assets of a public benefit corporation have been transferred or conveyed following approval of dissolution, the board shall deliver to the Director of Corporations a list showing those, other than creditors, to whom the assets were transferred or conveyed.  The list shall indicate the addresses of each person, other than creditors, who received assets and indicate what assets each received.