Title 13

NRS 164.025 Notice of death of settlor; filing of claim against settlor, trust estate or settlor and trust estate; effect of failure to file claim; notice to Nevada Health Authority and Department of Human Services under certain circumstances; notice of rejected claim; effect of …

NRS 164.030 Petition for instructions: Notice; hearing; final order; appeal. 1. Any trustee whose appointment has been confirmed, as provided in NRS 164.010, at any time thereafter may petition the court for instructions in the administration of the trust or for a construction of…

NRS 164.033 Petition concerning conveyance, transfer or delivery of property of trust; notice of hearing; order; appeal. 1. The trustee or an interested person may petition the court to enter an order: (a) If the trustee is in possession of, or holds title to, property and the pr…

NRS 164.037 Petitions: Notice and hearing. Except as otherwise provided in NRS 164.033, the clerk shall set a petition authorized by this chapter for hearing, and the petitioner shall give notice to all interested persons for the period and in the manner provided in NRS 155.010. …

NRS 164.038 Circumstances under which certain persons are authorized to be represented by persons with similar interests in proceedings concerning administration of trust; binding results; representation by powerholder for permissible appointee or taker in default of appointment;…

NRS 164.040 Power or jurisdiction of court not abridged; court may take action necessary or proper to dispose of matter presented by petition. 1. NRS 164.010 and 164.015 do not limit or abridge the power or jurisdiction of the district court over trusts and trustees. 2. The court…

NRS 164.041 Confidential information: Redaction and sealing of information without prior court order in certain circumstances. 1. Confidential information relating to trusts that is contained in petitions and subsequent related findings under this title or title 12 of NRS may be …

NRS 164.043 Expenses and compensation of trustees. 1. The expenses and compensation of a trustee of a nontestamentary trust must initially be governed by the terms of the nontestamentary trust. Thereafter, subject to any contrary terms of the nontestamentary trust, the court shal…

NRS 164.045 Circumstances under which laws of this State govern trusts; change of situs to this State; determination of liability of fiduciary acting or failing to act in good faith belief that laws of foreign jurisdiction govern. 1. The laws of this State govern the validity and…

NRS 164.067 Power to sell, convey or encumber. 1. When title to real or personal property is taken in the name of a trustee, the trustee has the power to sell, convey or encumber that property unless the deed or conveyance to the trustee specifically limits the power of the trust…

NRS 164.070 Short title. NRS 164.070 to 164.100, inclusive, may be cited as the Uniform Common Trust Fund Act. [1:21:1955]—(NRS A 1999, 2379)

NRS 164.080 Establishment; investments; management. 1. Any bank or trust company qualified to act as fiduciary in this State, or in any other state if affiliated with a bank or trust company qualified to act as fiduciary in this State, may: (a) Establish common trust funds to fur…

NRS 164.090 Accountings. Unless ordered by a court of competent jurisdiction, the bank or trust company operating common trust funds is not required to render a court accounting with regard to those funds, but it may, by petition to the court, secure approval of such an accountin…

NRS 164.100 Uniformity of interpretation. NRS 164.070 to 164.100, inclusive, must be so interpreted and construed as to effectuate their general purpose to make uniform the law of those states which enact them. [4:21:1955]—(NRS A 1999, 2380) TRANSFER OF SUPERVISION OF TRUSTS

NRS 164.130 Transfer by court to district court in this State or court outside Nevada. Upon petition by any trustee or beneficiary, a court having jurisdiction of a trust may transfer supervision of the trust to: 1. Any district court within the State, or to any court outside Nev…

NRS 164.400 Presentation; effect; form. 1. Except in connection with an application for benefits pursuant to chapter 422 or 422A of NRS, a trustee may present a certification of trust to any person, in lieu of a copy of any trust instrument, to establish the existence or terms of…

NRS 164.410 Contents. 1. A certification of trust may confirm the following facts or contain the following information: (a) The existence of the trust and date of execution of any trust instrument; (b) The identity of the settlor and each currently acting trustee; (c) The powers …

NRS 164.420 Dispositive provisions not required; person presented with certification may request excerpts from trust instrument designating trustee. A certification of trust need not contain the dispositive provisions of the trust, but the person to whom the certification is pres…

NRS 164.430 Reliance upon facts contained in certification; enforceability. 1. A person who acts in reliance upon a certification of trust without knowledge that the representations contained therein are incorrect is not liable to any person for so acting. A person who does not k…

NRS 164.440 Failure to demand certification not improper act; liability. A person’s failure to demand a certification of trust may not be considered to be an improper act by the person and no inference as to whether the person has acted in good faith may be drawn from the failure…

NRS 164.640 Short title. The provisions of NRS 164.640 to 164.680, inclusive, may be cited as the Uniform Prudent Management of Institutional Funds Act. (Added to NRS by 2007, 112)

NRS 164.643 Definitions. As used in NRS 164.640 to 164.680, inclusive, unless the context otherwise requires, the words and terms defined in NRS 164.645 to 164.663, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2007, 112)

NRS 164.645 “Charitable purpose” defined. “Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose or any other purpose the achievement of which is beneficial to the community. (Ad…

NRS 164.647 “Endowment fund” defined. “Endowment fund” means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an end…

NRS 164.650 “Gift instrument” defined. “Gift instrument” means a record or records, including, without limitation, an institutional solicitation, under which property is granted to, transferred to or held by an institution as an institutional fund. (Added to NRS by 2007, 112)

NRS 164.653 “Institution” defined. “Institution” means: 1. A person, other than an individual, organized and operated exclusively for charitable purposes; 2. A government or governmental subdivision, agency or instrumentality, to the extent that it holds funds exclusively for a c…

NRS 164.655 “Institutional fund” defined. “Institutional fund” means a fund held by an institution exclusively for charitable purposes. The term does not include: 1. Program-related assets; 2. A fund held for an institution by a trustee that is not an institution; or 3. A fund in…

NRS 164.657 “Person” defined. “Person” means an individual, corporation, business trust, estate, trust, partnership, limited-liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality, or any other legal or…

NRS 164.660 “Program-related asset” defined. “Program-related asset” means an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for investment. (Added to NRS by 2007, 113)

NRS 164.663 “Record” defined. “Record” means information which is inscribed on a tangible medium or which is stored in an electronic or other medium and is retrievable in perceivable form. (Added to NRS by 2007, 113)

NRS 164.665 Standard of conduct in managing and investing institutional fund. 1. Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institution and the pur…

NRS 164.667 Appropriation for expenditure or accumulation of endowment fund; rules of construction. 1. Subject to the intent of a donor expressed in the gift instrument and to subsection 4, an institution may appropriate for expenditure or accumulate so much of an endowment fund …

NRS 164.670 Delegation of management and investment functions. 1. Subject to any specific limitation set forth in a gift instrument or in law other than NRS 164.640 to 164.680, inclusive, an institution may delegate to an external agent the management and investment of an institu…

NRS 164.673 Release or modification of restrictions on management, investment or purpose. 1. If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment or purpose of an i…

NRS 164.675 Reviewing compliance. Compliance with NRS 164.640 to 164.680, inclusive, is determined in light of the facts and circumstances existing at the time a decision is made or action is taken, and not by hindsight. (Added to NRS by 2007, 116)

NRS 164.677 Relation to Electronic Signatures in Global and National Commerce Act. The provisions of NRS 164.640 to 164.680, inclusive, modify, limit and supersede the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. §§ 7001 et seq., but do not modify, limit o…

NRS 164.680 Uniformity of application and construction. In applying and construing the Uniform Prudent Management of Institutional Funds Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. (A…

NRS 164.700 Definitions. As used in NRS 164.700 to 164.925, inclusive: 1. “Fiduciary” means a trustee or, to the extent that NRS 164.780 to 164.925, inclusive, apply to an estate, a personal representative. 2. “Terms of a trust” means the manifestation of the intent of a settlor …

NRS 164.705 Short title. NRS 164.700 to 164.775, inclusive, may be cited as the Uniform Prudent Investor Act. (Added to NRS by 2003, 1967)

NRS 164.710 Administration of trust or estate by fiduciary in accordance with its terms or in accordance with provisions of NRS. In performing his or her duties under NRS 164.700 to 164.925, inclusive, a fiduciary: 1. Shall administer a trust or estate in accordance with the term…

NRS 164.715 Acting in interest of beneficiaries. A trustee shall invest and manage the trust property solely in the interest of the beneficiaries. (Added to NRS by 2003, 1966)

NRS 164.720 Trust having two or more beneficiaries; impartial administration of trust or estate. 1. If a trust has two or more beneficiaries, the trustee shall act impartially in investing and managing the trust property, taking into account any differing interests of the benefic…

NRS 164.725 Notice of proposed action: Authorized; to whom notice must be sent; content; objection to proposed action; limitations on liability; court order to take action over objection; burden of proof; notice when action not taken. 1. As used in this section, “action” includes…

NRS 164.730 No duty to make adjustment between principal and income; trustee immunity from liability. 1. The provisions of NRS 164.700 to 164.925, inclusive, do not impose or create a duty of a trustee to make an adjustment between principal and income pursuant to the provisions …

NRS 164.735 Applicability. Except as specifically provided in a trust instrument, a will or NRS 164.700 to 164.925, inclusive, the provisions of NRS 164.700 to 164.925, inclusive, apply to any trust or estate of a decedent existing on or after October 1, 2003. (Added to NRS by 20…

NRS 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 th…