Nevada § 78.585 - Continuation of corporation after dissolution for winding up and liquidating its business and affairs; limitation on actions by or against dissolved corporation
Full text of Nevada Nevada Revised Statutes § 78.585 — Continuation of corporation after dissolution for winding up and liquidating its business and affairs; limitation on actions by or against dissolved corporation, with citation guidance and answers to common questions.
§ 78.585. Continuation of corporation after dissolution for winding up and liquidating its business and affairs; limitation on actions by or against dissolved corporation
1. The dissolution of a corporation does not impair any remedy or cause of action
available to or against it or its directors, officers or stockholders commenced within
2 years after the date of the dissolution with respect to any remedy or cause of action
in which the plaintiff learns, or in the exercise of reasonable diligence should have
learned of, the underlying facts on or before the date of dissolution, or within 3
years after the date of dissolution with respect to any other remedy or cause of action. Any such remedy or cause of action not commenced within the applicable period is
barred. The corporation continues as a body corporate for the purpose of prosecuting and
defending suits, actions, proceedings and claims of any kind or character by or against
it and of enabling it gradually to settle and close its business, to collect its assets,
to collect and discharge its obligations, to dispose of and convey its property, to
distribute its money and other property among the stockholders, after paying or adequately
providing for the payment of its liabilities and obligations, and to do every other
act to wind up and liquidate its business and affairs, but not for the purpose of
continuing the business for which it was established. 2. Nothing in this section shall be so construed as to lengthen any shorter statute
of limitations otherwise applicable provided that no provision of this chapter or
other specific statute has the effect of applying any statute of limitations that
is longer than provided for in this section with respect to any such remedy or cause
of action. Nothing in this section shall be construed to create any remedy or cause of action
available to or against the corporation or its directors, officers or stockholders.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 78.585
What does Nevada Revised Statutes § 78.585 cover?
Section 78.585 ("Continuation of corporation after dissolution for winding up and liquidating its business and affairs; limitation on actions by or against dissolved corporation") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 78.585?
A common citation format is "Nevada Revised Statutes § 78.585" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 78.585 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.