NRS 159.119 - Continuing business of protected person.

NV Rev Stat § 159.119 (2019) (N/A)

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A guardian of the estate, with prior approval of the court by order, may continue any business of the protected person. The order may provide for any one or more of the following:

1. The conduct or reorganization of the business solely by the guardian, jointly by the guardian with one or more of the partners, shareholders, members, or joint venturers of the protected person or as a corporation or limited-liability company of which the protected person is or becomes a shareholder or member.

2. The extent to which the guardian may incur liability of the estate of the protected person for obligations arising from the continuation of the business.

3. Whether liabilities incurred in the conduct of the business are to be chargeable solely to the part of the estate of the protected person allocated for use in the business or to the estate as a whole.

4. The period of time during which the business may be conducted.

5. Any other conditions, restrictions, regulations and requirements as the court considers proper.

(Added to NRS by 1969, 423; A 2003, 1793)

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NRS 159.117 - Court approval required to make certain investments and loans and to exercise certain options; certain investments authorized without prior approval; investing property of two or more protected persons.

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