Nev. Rev. Stat. § 162B.530

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

Section 162B.530 - Creditor claim: Nongeneral power

1. Except as otherwise provided in subsections 2 and 3, appointive property subject to a nongeneral power of appointment is exempt from a claim of a creditor of the powerholder or the powerholder's estate.

2. Appointive property subject to a nongeneral power of appointment is subject to a claim of a creditor of the powerholder or the powerholder's estate to the extent that the powerholder owned the property and, reserving the nongeneral power, transferred the property in violation of any provision of chapter 112 of NRS.

3. If the initial gift in default of appointment is to the powerholder or the powerholder's estate, a nongeneral power of appointment is treated for purposes of NRS 162B.500 to 162B.530, inclusive, as a general power.

NRS 162B.530

Added to NRS by 2017, 1379

Added to NRS by 2017, Ch. 262, § 54