NRS 163.5548 Circumstances under which fiduciary is “directed fiduciary.”
79 words·~1 min read·
/nv/chapter-163-trusts/163-5548·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 163.5548 Circumstances under which fiduciary is “directed fiduciary.” For the purposes of NRS 163.553 to 163.557 , inclusive, a fiduciary is a “directed fiduciary” with respect to any action that the fiduciary:
1. Has no power to take under the terms of the governing instrument;
2. Is mandated by the governing instrument and for which the fiduciary has no discretion to act otherwise; and
3. Is directed to take or prohibited from taking by a directing trust adviser.