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2015 Nebraska Revised Statutes
Chapter 21 - CORPORATIONS AND OTHER COMPANIES
21-2041 Repealed. Laws 2014, LB749, § 298; Laws 2015, LB157, § 10. Operative date January 1, 2017. Liability of shareholders.

Universal Citation:
NE Code § 21-2041 (2015)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

21-2041. Repealed. Laws 2014, LB749, § 298; Laws 2015, LB157, § 10. Operative date January 1, 2017. Liability of shareholders.

(1) A purchaser from a corporation of its own shares shall not be liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued pursuant to section 21-2040 or specified in the subscription agreement pursuant to section 21-2039.

(2) Unless otherwise provided in the articles of incorporation, a shareholder of a corporation shall not be personally liable for the acts or debts of the corporation, except that he or she may become personally liable by reason of his or her own acts or conduct.

Source

  • Laws 1995, LB 109, § 41.

Annotations

  • A court will disregard a corporation's identity and hold shareholders personally liable where the corporation has been used to commit fraud, violate a legal duty, or perpetrate a dishonest or unjust act in contravention of the rights of another. Victory Lake Marine, Inc. v. Velduis, 9 Neb. App. 815, 621 N.W.2d 306 (2000).

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