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And here's a much more complete explanation: http://www.schneider-electric.ca/www/en/products/stab-lok/Gen_Panels_Appl_Note_EN.pdf
All the usual ways to do it incorrectly and some that are correct - plus you'll understand the pros and cons of each method

Thank you Ms. Ann I needed that clarification for a project coming up.

Thanks everybody.

Do you mean PME as in the British sense (Protective Multiple Earthing) ?

It would still be against our "code" to have a shared neutral/earth at any point on the customer's side of the main service equipment (including any multiple bonding on a generator which would result in neutral current being shared on a protective grounding conductor).

The multiple-earthing aspect of PME applies only to the distribution side of the network here, the last point at which at parallel earth can be applied being at the service entrance to the premises.

Continental Europe is another story.

Paulak, are you saying that USA we can't share the neutral? How do I get a neutral for the loads that will be on the generator? Is the neutral coming from the generator? I don't know if that is the correct way of puting that. Do I seperate the neutrals in the subpanel?

Ok, I think I got it. Took me awhile but I understand it now. Thanks again the web page was every helpful.