Legal Question in Business Law in Nevada
commingling funds
What are the legal consequences if you have evidence that someone is guilty of commingling funds?
2 Answers from Attorneys
Re: commingling funds
It depends on the context. If it is a marriage or a partnership probable no consequence. If it is a fiduciary than perhaps breach of fiduciary duty. If it it a corporation perhaps piercing the corporate veil. If it is an employee perhaps termination or embezzlement.
Re: commingling funds
I don't know about Nevada, but in California it could range from totally harmless to a serious felony depending upon the relationship between the parties whose funds are being commingled, who is doing it, with what intent, and other facts.
The question is something like asking what are the legal consequences of driving 70 MPH. It depends upon whether it's I-80 between Lovelock and Rye Patch, or Virginia in downtown Reno.
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