21-2020 Preincorporation transactions; joint and several liability. - Nebraska Statutes

21-2020. Preincorporation transactions; joint and several liability.All persons purporting to act as or on behalf of a corporation, knowing there was no incorporation under the Business Corporation Act, shall be jointly and severally liable for all liabilities created while so acting. SourceLaws 1995, LB 109, § 20.AnnotationsThis section is not applicable when an individual contracts as an agent of a corporation that was in existence when the contract was executed. Par 3, Inc. v. Livingston, 268 Neb. 636, 686 N.W.2d 369 (2004).