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Quintana v. Los Alamos Medical Center Inc.12/2/1994
e generally referred to as survival statutes, meaning survival of the corporation's existence for a period of time after dissolution. Once the survival period has ended, the corporation ceases to exist and can no longer be sued. See . The policy behind this has been expressed as follows:
There should be a definite point in time at which the existence of a corporation and the transaction of its business are terminated. To allow . . . the continued prosecution of lawsuits perverts the definiteness and orderly process of dissolution so as to produce a continuous dribble of business activity contrary to the intent of the winding up provisions of the statute.
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