Nevada Revised Statutes 35.220 – Responsibilities of trustee
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The trustee shall sue for and recover the debts and property of the corporation, and shall be responsible to the creditors and stockholders, respectively, to the extent of the effects which come into the trustee’s hands, in the same manner as though the trustee were the executor of the estate of a deceased person.
Terms Used In Nevada Revised Statutes 35.220
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Executor: A male person named in a will to carry out the decedent
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Trustee: A person or institution holding and administering property in trust.