The statute of limitations runs as to your sister's closed entity just like it would run as to any person concerning any wrongful act or tort as set forth under the laws of the various states in this country.If your sister ran her business out of an entity such as a corporation or limited liability company and kept her business operations separate from her personal matters and had adequate insurance for her businesses' errors and operations, she should be in good shape personally in the event of any lawsuit from being liable for any claims.Most statute of limitations are at the most for four (4) years from the date the wrongful act started. However, if your sister's business operations were that in the building trades such as building new construction, the time period for latent defects could be up to ten (10) years for statute of limitations purposes.Good luck.