Nev. Rev. Stat. § 163.5548

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 163.5548 - Circumstances under which fiduciary is "directed fiduciary."

For the purposes of NRS 163.553 to 163.557, inclusive, a fiduciary is a "directed fiduciary" with respect to any action that the fiduciary:

1. Has no power to take under the terms of the governing instrument;

2. Is mandated by the governing instrument and for which the fiduciary has no discretion to act otherwise; and

3. Is directed to take or prohibited from taking by a directing trust adviser.

NRS 163.5548

Added to NRS by 2015, 3539

Added by 2015, Ch. 524,§43, eff. 10/1/2015.