Nevada § 78.747 Liability of another person for debt or liability of corporation

Nevada Statutes

§ 78.747 — Liability of another person for debt or liability of corporation

Nevada·Title 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES·Ch. 78 Private· SUITS AGAINST CORPORATIONS, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS AND STOCKHOLDERS

1. Except as otherwise specifically provided by statute or agreement, no person other than a corporation is individually liable for a debt or liability of the corporation unless the person acts as the alter ego of the corporation. 2. A person acts as the alter ego of a corporation only if:

(a)The corporation is influenced and governed by the person;

(b)There is such unity of interest and ownership that the corporation and the person are inseparable from each other; and

(c)Adherence to the notion of the corporation being an entity separate from the person would sanction fraud or promote a manifest injustice. 3. The question of whether a person acts as the alter ego of a corporation must be determined by the court as a matter of law.

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1. Except as otherwise specifically provided by statute or agreement, no person other than a corporation is individually liable for a debt or liability of the corporation unless the person acts as the alter ego of the corporation.
2. A person acts as the alter ego of a corporation only if:
(a) The corporation is influenced and governed by the person;
(b) There is such unity of interest and ownership that the corporation and the person are inseparable from each other; and
(c) Adherence to the notion of the corporation being an entity separate from the person would sanction fraud or promote a manifest injustice.
3. The question of whether a person acts as the alter ego of a corporation must be determined by the court as a matter of law.

Nevada § 78.747 (Liability of another person for debt or liability of corporation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.