Nevada Statutes
§ 78A.120 — Limitation on liability of shareholders
Personal liability may not be imposed upon shareholders of a close corporation solely as a result of the failure of the close corporation to observe the usual corporate formalities or requirements relating to the exercise of corporate powers or management of its business and affairs, where such failure results from the distinct nature and permissible functioning of a close corporation.
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Legislative History
(Added to NRS by 1989, 945 )
Nearby Sections
15
§ 78A.010
Applicability of chapter§ 78A.013
Form required for filing of records§ 78A.017
Cancellation of filings§ 78A.080
Shareholders’ agreements: Validity§ 78A.100
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