Q: Is there a statute of limitations on the time a regional corporation should notify a shareholder?
I’m a shareholder that receives a distribution check from a regional corporation in Alaska. I received a letter November, 2024 for a distribution check from December, 2017 accusing me of cashing it twice and I’m responsible for repayment, a hold has been placed on my distribution this next week. I called the bank the check was drawn from to begin an investigation as advised from shareholder records because they couldn’t because they switched banks since then. The corporate fraud department at the bank tells me it’s too late. Being that the regional corporation requires annual audits to be performed on all transactions and they failed to notify me in a timely manner about this November,2017 checks to report this, am I responsible for the repayment?
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