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 neither the minor nor the minor’s legal representative has any right, power, duty or […]
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 execution and either delivery to the custodial trustee or recording of an instrument in substantially the following form: TRANSFER UNDER THE NEVADA […]
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 business in this State or custodial trust property is located in this […]
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 the business of effecting transactions in securities or commodities for his […]
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 the designation, the transferor or the transferor’s legal representative. If an event giving rise to a transfer has not occurred, the substitute custodial trustee designated under NRS 166A.190 becomes the custodial trustee […]
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 property for reasonable expenses incurred in the performance of fiduciary services; 2. Has a noncumulative election, to be made no later than 6 […]
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 provide a written statement of the administration of the custodial trust property: (a) Once each year; (b) Upon request at reasonable times by the beneficiary or the beneficiary’s legal representative; (c) […]
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 beneficiary, a person to whom custodial trust property is to be paid or delivered or the legal representative of an […]