Nevada § 86.376 Liability of person who acts as alter ego of company for debts or liabilities of company

Nevada Statutes

§ 86.376 — Liability of person who acts as alter ego of company for debts or liabilities of company

Nevada·Title 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES·Ch. 86 Limited-Liability· LIABILITY, INDEMNIFICATION AND INSURANCE

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

(a)The limited-liability company is influenced and governed by the person;

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

(c)Adherence to the notion of the limited-liability company being an entity separate from the person would sanction fraud or promote manifest injustice. 3. The question of whether a person acts as the alter ego of a limited-liability com

Free access — add to your briefcase to read the full text and ask questions with AI

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

Nevada § 86.376 (Liability of person who acts as alter ego of company for debts or liabilities of company) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.