Title 13

NRS 166A.220 Multiple beneficiaries; separate custodial trusts; survivorship. 1. Beneficial interests in a custodial trust created for multiple beneficiaries are deemed to be separate custodial trusts of equal undivided interests for each beneficiary. Except in a transfer or decl…

NRS 166A.230 General duties of custodial trustee. 1. If appropriate, a custodial trustee shall register or record the instrument vesting title to custodial trust property. 2. If the beneficiary is not incapacitated, a custodial trustee shall follow the directions of the beneficia…

NRS 166A.240 General powers of custodial trustee. 1. A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those ri…

NRS 166A.250 Use of custodial trust property. 1. A custodial trustee shall pay to the beneficiary or expend for the beneficiary’s use and benefit so much or all of the custodial trust property as the beneficiary while not incapacitated may direct from time to time. 2. If the bene…

NRS 166A.260 Determination of incapacity; effect. 1. The custodial trustee shall administer the custodial trust as for an incapacitated beneficiary if: (a) The custodial trust was created under NRS 166A.210; (b) The transferor has so directed in the instrument creating the custod…

NRS 166A.270 Exemption of third person from liability. A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absenc…

NRS 166A.280 Liability to third person. 1. A claim based on a contract entered into by a custodial trustee acting in a fiduciary capacity, an obligation arising from the ownership or control of custodial trust property or a tort committed in the course of administering the custod…

NRS 166A.290 Declination, resignation, incapacity, death or removal of custodial trustee; designation of successor custodial trustee. 1. Before accepting the custodial trust property, a person designated as custodial trustee may decline to serve by notifying the person who made t…

NRS 166A.300 Expenses, compensation and bond of custodial trustee. Except as otherwise provided in the instrument creating the custodial trust, in an agreement with the beneficiary or by court order, a custodial trustee: 1. Is entitled to reimbursement from custodial trust proper…

NRS 166A.310 Reporting and accounting by custodial trustee; determination of liability of custodial trustee. 1. Upon the acceptance of custodial trust property, the custodial trustee shall provide a written statement describing the custodial trust property and shall thereafter pr…

NRS 166A.320 Limitations of action against custodial trustee. 1. Except as otherwise provided in subsection 3, unless previously barred by adjudication, consent or limitation, a claim for relief against a custodial trustee for accounting or breach of duty is barred as to a benefi…

NRS 166A.330 Distribution on termination. 1. Upon termination of a custodial trust, the custodial trustee shall transfer the unexpended custodial trust property: (a) To the beneficiary, if not incapacitated or deceased; (b) To the conservator or other recipient designated by the …

NRS 166A.340 Methods and forms for creating custodial trusts. 1. If a transaction, including, without limitation, a declaration with respect to or a transfer of specific property, otherwise satisfies applicable law, the criteria of NRS 166A.180 are satisfied by either: (a) The ex…

NRS 166A.350 Applicable law. 1. This chapter applies to a transfer or declaration creating a custodial trust that refers to this chapter if, at the time of the transfer or declaration, the transferor, beneficiary or custodial trustee is a resident of or has its principal place of…

NRS 166A.360 Uniformity of application and construction. In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. (Added to NRS by 2007, 295)

NRS 167.010 Short title. This chapter may be cited as Nevada’s Uniform Act on Transfers to Minors. (Added to NRS by 1957, 21; A 1967, 370; 1985, 69)

NRS 167.020 Definitions. In this chapter, unless the context otherwise requires: 1. “Adult” means a person who has attained the age of 18 years. 2. “Benefit plan” means an employer’s plan for the benefit of an employee or partner. 3. “Broker” means a person lawfully engaged in th…

NRS 167.021 Applicability; custodian subject to personal jurisdiction. 1. This chapter applies to a transfer that refers to Nevada’s Uniform Act on Transfers to Minors in the designation under subsection 1 of NRS 167.030 by which the transfer is made if at the time of the transfe…

NRS 167.023 Transfer by gift or exercise of power of appointment. A person may make a transfer by irrevocable gift to, or the irrevocable exercise of a power of appointment in favor of, a custodian for the benefit of a minor pursuant to the provisions of this chapter. (Added to N…

NRS 167.025 Transfer authorized in will or trust. 1. A personal representative or trustee may make an irrevocable transfer pursuant to the provisions of this chapter to a custodian for the benefit of a minor as authorized in the governing will or trust. 2. If the testator or sett…

NRS 167.027 Transfer not authorized in will or trust; transfer by conservator. 1. A personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to the provisions of this chapter, in the abs…

NRS 167.029 Transfer by debtor or person holding property of minor. 1. A person not subject to NRS 167.025 or 167.027 who holds property of or owes a liquidated debt to a minor not having a conservator may make an irrevocable transfer to a custodian for the benefit of the minor p…

NRS 167.030 Creation of custodial property; manner of making transfer. 1. Custodial property is created and a transfer is made when: (a) An uncertificated security or a certificated security in registered form is: (1) Registered in the name of the transferor, an adult other than …

NRS 167.033 Nomination of custodian to serve upon future event. 1. A person having the right to designate the recipient of property transferable upon the occurrence of a future event may revocably nominate a custodian to receive the property for a minor beneficiary upon the occur…

NRS 167.034 Delay of time for certain transfers; requirements. 1. Subject to the limitations of this section, the time for transfer to the minor of custodial property transferred under NRS 167.023, 167.025 or 167.033 may be delayed until a specified time after the time the minor …

NRS 167.035 Validity of transfer. The validity of a transfer made in a manner prescribed in this chapter is not affected by: 1. The failure of the transferor to comply with the provisions of NRS 167.030 concerning possession and control; 2. The designation of an ineligible custod…

NRS 167.040 Effect of transfer. 1. A transfer made in a manner prescribed in this chapter is irrevocable and conveys to the minor indefeasibly vested legal title to the custodial property, but the custodian has any right, power, duty or authority provided in this chapter and neit…

NRS 167.043 Acknowledgment of delivery of custodial property. A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to the provisions of this chapter. (Added to NRS by 1985, …

NRS 167.045 Rights of custodian. 1. A custodian, acting in a custodial capacity, has all the rights, powers and authority over custodial property that an unmarried adult has over his or her own property, but a custodian may exercise those rights, powers and authority in that capa…

NRS 167.050 Duties and powers of custodian. 1. The custodian shall: (a) Take control of the custodial property; (b) Register or record title to the custodial property, if appropriate; and (c) Collect, hold, manage, invest and reinvest the custodial property. 2. In dealing with cu…

NRS 167.055 Delivery, payment or expenditure of custodial property for benefit of minor. 1. A custodian may deliver or pay to the minor or expend for the minor’s benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, w…

NRS 167.060 Expenses, compensation and bond of custodian. 1. A custodian is entitled to reimbursement from the custodial property for reasonable expenses incurred in the performance of the custodian’s duties. 2. Unless a custodian is a transferor under NRS 167.023, the custodian …

NRS 167.070 Exemption of third persons from liability. A third person acting in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, without knowl…

NRS 167.080 Disclaimer, resignation, death or removal of custodian; designation of successor custodian; petition to remove or require bond of custodian. 1. A person nominated or designated as a custodian may decline to serve by delivering a valid disclaimer to the person who made…

NRS 167.085 Claims against custodial property; liability of custodian and minor. 1. A claim based on: (a) A contract entered into by a custodian acting in a custodial capacity; (b) An obligation arising from the ownership or control of custodial property; or (c) A tort committed …

NRS 167.090 Petition for accounting by custodian or determination of responsibility by court; delivery of custodial property and records to successor custodian. 1. The minor, if he or she has attained the age of 14 years, or the guardian or legal representative of the minor, an a…

NRS 167.095 Transfer by custodian to minor. The custodian shall transfer in an appropriate manner the custodial property to the minor or to the minor’s estate upon the earlier of: 1. The minor’s attainment of 18 years of age with respect to custodial property transferred under NR…

NRS 167.100 Construction. This chapter must be so applied and construed as to effectuate its general purpose to make uniform the law of those states which enact it. (Added to NRS by 1957, 26; A 1985, 81)