159.119 - Continuing business of ward. - Nevada Statutes

159.119  Continuing business of ward.  A guardian of the estate, with prior approval of the court by order, may continue any business of the ward. 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 ward’s partners, shareholders, members, or joint venturers or as a corporation or limited-liability company of which the ward is or becomes a shareholder or member.

      2.  The extent to which the guardian may incur liability of the estate of the ward 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 ward 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)