Sulja Bros. Building Supplies, Ltd (SLJB)

[MorningLightMountain]

"Strict" Nevada Rules:

"""More recently however, Nevada's corporate law has surpassed Delaware's in its efforts to ensure the protection of the rights of small corporations. Delaware for example, has adopted a statute that allows the corporation to limit the liability of a director for monetary damages. However, it has far to go to be compared to similar statutes adopted by Nevada. For example, the following are acts for which officers and directors would be protected under Nevada law, but exposed under Delaware Statues:

Acts or omissions not in good faith.


Acts by officers are not exempt from monetary damages under Delaware law.


Breach of a director's duty of loyalty.


Transactions involving undisclosed personal benefit to the officer or director.


Acts or omissions that occurred prior to the date that the statute which provides for indemnification of directors, was passed and approved.

One requirement that Delaware has is that an officer must reasonably believe that he or she is performing his or her duties in a manner that is in the best interests of the corporation. This requirement is not present in Nevada"""

http://www.nvinc.com/piercecorp.htm