Nevada Corporation Limited Liability

Nevada requires that only a corporation's president, secretary, treasurer and one director be listed on the Initial List of Officers, as well as the Annual List to renew the corporation's filings with the State.

Nevada's indemnification laws vary from those of other states in that they can limit the personal liability of corporate principles by not requiring an officer or director to prevail in a lawsuit as a defendant before the corporation is allowed to indemnify him or her. Most states follow the Delaware standard in requiring an officer or director to prevail in a lawsuit before the corporation is allowed to indemnify that person.

Put the power of Nevada's Corporate law on your side by calling us here at Silver Shield Services, Inc. (775) 577-4822, for a free consultation on the many advantages of Nevada Business Entities.

Facts About Nevada Corporate Law

A Nevada Corporation's Asset protection is ultra-strong when you consider the following statistics. There has never been a case in which a Nevada corporation's veil has been pierced when the corporation has been run properly.

Nevada courts have pierced a corporate veil only twice in the last 25 years, and that was because of possible fraud resulting in harm to another party.

Nevada courts have developed a strong record of case law that protects the corporate veil, making it one of the most difficult in the country to pierce.

Nevada is the only state that can indemnify corporate principals and protect their privacy. Officers and directors are required to list only their names in public records.

Liability Protection

The corporation is often described as having a juristic or legal personality. This means it is viewed in the eyes of the law as a separate person from its owners, directors or officers. This is the element that provides the liability protections that people often look for when incorporating. The courts genrally uphold the legal separateness of the corporation.

The corporation, as its own legal person, survives all changes in ownership and management. It can live on indefinitely. Because it is recognized as a completely separate "legal person," distinctively different from any other individual, the corporation's assets are kept separate from the assets of any of the stockholders, officers or directors. That means the corporation is not responsible for the debts of the individual, and vise versa.

The Power of the Corporation

In general a corporation provides for greater flexibility compared to other forms of business entities. Some of the advantages are in key areas like better financial privacy, favorable tax treatment, including substantially increased business deductions and retirement options, and much greater adaptability with ownership and management issues.

The corporation remains the most important form of business entity in use today. Although other forms may outnumber it, the corporation transacts most significant business. That is a strong reason for considering the corporation as you business entity of choice. The power and influence of the nation's entire business community, including high-powered lobbyists at every level of government, are on your side of important issues.

Give us a call at (775) 577-4822 or e-mail us at staff@shieldcorp.net to learn more about the corporation's powerful business tools.