NRS 78A.120 Limitation on liability of shareholders.
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/nv/chapter-78a-close-corporations/78a-120·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 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.