Nev. Rev. Stat. § 164.740

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

Section 164.740 - Duty to comply with prudent investor rule; circumstances under which trustee is immune from liability

Except as otherwise provided in chapter 669A of NRS, a trustee who invests and manages trust property owes a duty to the beneficiaries of the trust to comply with the prudent investor rule as set forth in NRS 164.700 to 164.775, inclusive, but a trustee is not liable to a beneficiary to the extent that the trustee:

1. Acted in reasonable reliance on the terms of the trust or a court order; and

2. Determined in good faith to not diversify the investments of a trust pursuant to NRS 164.750.

NRS 164.740

Added to NRS by 2003, 1967; A 2011, 1817; 2015, 3555

Amended by 2015, Ch. 524,§68, eff. 10/1/2015.

Added to NRS by 2003, 1967; A 2011, 1817