A. For the purpose of facilitating settlement and distribution of estates, trusts, receiverships, other fiduciary relationships and the assets of corporations in the process of dissolution or that have been dissolved, the finance director may agree with the fiduciary or surviving corporate directors upon an amount of taxes due from the decedent or from the decedent's estate, the trust, receivership or other fiduciary relationship, or corporation for any of the periods of tax liability under this chapter. Payment in accordance with such agreement fully satisfies the tax liability for the periods that the agreement covers, unless the taxpayer has committed fraud or misrepresented a material fact regarding the tax or liability therefor.

B. Except as provided in subsection D of this section, any personal representative of a decedent or the estate of a decedent, any trustee, receiver or other person acting in a fiduciary capacity, or any director of a corporation in the process of dissolution or that has been dissolved, who distributes the estate or fund under such person's control without having first paid any taxes covered by this chapter due from such decedent, decedent's estate, trust estate, receivership or corporation that may be assessed within the periods authorized by this chapter is personally liable to the extent of the property distributed by such person for any unpaid taxes of the decedent, decedent's estate, trust estate, receivership or corporation imposed by or due under this chapter and assessed within the periods authorized by this chapter.

C. The distributee of a decedent's estate, a trust estate, or fund and the stockholder of any dissolved corporation who receives any of the property of such decedent's estate, trust estate, fund or corporation is personally liable under this chapter to the same extent that the decedent, trust estate, fund or corporation is liable under this chapter.

D. If a tax under this chapter is due from a decedent or the decedent's estate, the personal liability of the persons enumerated in this section shall remain in effect only if a determination of the tax due is made and notice and demand therefor issues within eighteen months after the decedent's personal representative files with the finance director a written request for such determination, which request shall be filed after he or she has filed the decedent's final return or the decedent's estate's return to which the request applies. A request for determination under this subsection does not extend the otherwise applicable period of limitation.

E. If a tax under this chapter is due from a corporation that is in the process of dissolution or has been dissolved, the personal liability of directors or stockholders as provided in this section shall remain in effect only if a determination of the tax due is made and notice and demand issued within eighteen months after the corporation files with the finance director a written request for such determination, which request shall be filed after it has filed the corporation's return, but only if the request states that the dissolution was begun in good faith before the expiration of the eighteen-month period and the dissolution is completed. A request for determination under this subsection does not extend the otherwise applicable period of limitation. (Ord. 1993-7 Exh. B (part))