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2020 Nevada Revised Statutes
Chapter 78A - Close Corporations
NRS 78A.120 - Limitation on liability of shareholders.
Universal Citation: NV Rev Stat § 78A.120 (2020)
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.
(Added to NRS by 1989, 945)
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