Nevada Revised Statutes 92A.260 – Liability of owner after merger, conversion or exchange
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An owner that is not personally liable for the debts, liabilities or obligations of the entity pursuant to the laws and constituent documents under which the entity was organized does not become personally liable for the debts, liabilities or obligations of the surviving entity or entities of the merger or exchange or the resulting entity of the conversion unless the owner consents to becoming personally liable by action taken in connection with the plan of merger, conversion or exchange.
Terms Used In Nevada Revised Statutes 92A.260
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.