Title 13

NRS 162.060 Check drawn by fiduciary payable to third person. If a check or other bill of exchange is drawn by a fiduciary as such, or in the name of his or her principal by a fiduciary empowered to draw such instrument in the name of the principal, the payee is not bound to inqu…

NRS 162.070 Check drawn by and payable to fiduciary. If a check or other bill of exchange is drawn by a fiduciary as such or in the name of his or her principal by a fiduciary empowered to draw such instrument in the name of the principal, payable to the fiduciary personally, or …

NRS 162.080 Deposit in name of fiduciary as such. If a deposit is made in a bank to the credit of a fiduciary as such, the bank is authorized to pay the amount of the deposit or any part thereof upon the check of the fiduciary, signed with the name in which such deposit is entere…

NRS 162.090 Check drawn upon account of principal. If a check is drawn upon the account of his or her principal in a bank by a fiduciary who is empowered to draw checks upon the principal’s account, the bank is authorized to pay such check without being liable to the principal, u…

NRS 162.100 Deposit in personal account of fiduciary. If a fiduciary makes a deposit in a bank to his or her personal credit of checks drawn by the fiduciary upon an account in his or her own name as fiduciary, or of checks payable to him or her as fiduciary, or of checks drawn b…

NRS 162.110 Deposit in names of two or more trustees. When a deposit is made in a bank in the name of two or more persons as trustees and a check is drawn upon the trust account by any trustee or trustees authorized by the other trustee or trustees to draw checks upon the trust a…

NRS 162.120 Applicability. The provisions of NRS 162.010 to 162.140, inclusive, shall not apply to transactions taking place prior to March 1, 1923. [11:44:1923; NCL § 2995]

NRS 162.130 Cases not provided for in NRS 162.010 to 162.140, inclusive. In any case not provided for in NRS 162.010 to 162.140, inclusive, the rules of law and equity, including the law merchant and those rules of law and equity relating to trusts, agency, negotiable instruments…

NRS 162.140 Uniformity of interpretation. NRS 162.010 to 162.140, inclusive, shall be so interpreted and construed as to effectuate their general purpose to make uniform the law of those states which enact them. [13:44:1923; NCL § 2997] ACT FOR SIMPLIFICATION OF FIDUCIARY SECURIT…

NRS 162.150 Short title. NRS 162.150 to 162.250, inclusive, may be cited as the Act for Simplification of Fiduciary Security Transfers. (Added to NRS by 1959, 605)

NRS 162.160 Definitions. As used in NRS 162.150 to 162.250, inclusive, unless the context otherwise requires: 1. “Assignment” includes any written stock power, bond power, bill of sale, deed, declaration of trust or other instrument of transfer. 2. “Claim of beneficial interest” …

NRS 162.170 Registration in name of fiduciary. A corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as a fiduciary is not bound to inquire into the existence, extent or correct description of the fiduciary relations…

NRS 162.180 Assignment by fiduciary. Except as otherwise provided in NRS 162.150 to 162.250, inclusive, a corporation or transfer agent making a transfer of a security pursuant to an assignment by a fiduciary: 1. May assume without inquiry that the assignment, even though to the …

NRS 162.210 Nonliability of corporation and transfer agent. A corporation or transfer agent incurs no liability to any person by making a transfer or otherwise acting in a manner authorized by NRS 162.150 to 162.250, inclusive. (Added to NRS by 1959, 605)

NRS 162.220 Nonliability of third person. 1. No person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary, including a person who guarantees the signature of the fiduciary, is liable for participation in any breach of fiduc…

NRS 162.230 Application of NRS 162.150 to 162.250, inclusive. The provisions of NRS 162.150 to 162.250, inclusive, apply to the rights and duties of a person other than the issuing corporation and its transfer agents with regard to acts and omission in this state in connection wi…

NRS 162.240 Tax obligations. NRS 162.150 to 162.250, inclusive, do not affect any obligation of a corporation or transfer agent with respect to any taxes imposed by the laws of this state. (Added to NRS by 1959, 605)

NRS 162.250 Uniformity of interpretation. NRS 162.150 to 162.250, inclusive, shall be so construed as to effectuate their general purpose to make uniform the law of those states which enact them. (Added to NRS by 1959, 605) MISCELLANEOUS PROVISIONS

NRS 162.260 Succession to powers and duties of original fiduciary. A successor or substitute fiduciary succeeds to all the powers and duties which the will, deed or other instrument conferred on the original fiduciary with respect to the estate or trust unless the instrument expr…

NRS 162.270 Continued administration by surviving fiduciary. The survivor of two or more fiduciaries may continue to administer the property of the estate or trust without the appointment of a successor unless the continued administration by the survivor is contrary to an express…

NRS 162.280 Withholding of property from beneficiary. At the time for distribution of any property of an estate or trust, the fiduciary may withhold any part or all of the property from the beneficiaries if the fiduciary determines that the property may be subject to claims of of…

NRS 162.300 Establishment of trust or formation of entity by fiduciary; transfer, assignment or conveyance of estate or trust property to trust or entity; ownership or control of trust or entity by trust. 1. A fiduciary may establish a trust or form a corporation, limited-liabili…

NRS 162.310 Limitation on duty of attorney representing fiduciary with respect to principal. 1. An attorney who represents a fiduciary does not, solely as a result of such attorney-client relationship, assume a corresponding duty of care or other fiduciary duty to a principal. 2.…