Legal Question in Business Law in Nevada
Using nominee check signor for Corporation
I own 100% of a C Corporation in Nevada and for anonymity would like a nominee treasurer to sign the company checks. I have found a nominee for this service that charges $1300/year. The reason for this high price they say is due to liability.
My question is what liability does the nominee have if they are not an owner or shareholder of the company? It would seem that all the liability would be on the corporation and its owners. Would a simple one page contract relieve the nominee from liability?
1 Answer from Attorneys
Re: Using nominee check signor for Corporation
Using a nominee can be risky both to the nominator and the nominee. I once had a lease I was responsible for as a nominee and I have seen nominees sale property. I would think $500 would be a more reasonable charge, but there is truly no way to guarantee a release from liability. An indemnity agreement is only as good as the person's assets standing behind it.
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