NRS 163.030 Loan of money held in trust.

115 words·~1 min read·/nv/chapter-163-trusts/163-030

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. Except as provided in NRS 163.040 , no corporate trustee shall lend trust funds to itself or an affiliate, or to any director, officer, or employee of itself or of an affiliate.

2. Except as otherwise:

(a)Provided in a trust instrument and:

(1)Consented to by all beneficiaries of the trust; or

(2)Performed in accordance with a notice of a proposed action provided pursuant to NRS 164.725 ; or

(b)Approved by a court,

Ê a noncorporate trustee, including a limited-liability company, shall not lend trust funds to itself, himself or herself, or to a relative, employer, employee, partner, member or other business associate.