NRS 673.360 Administrators, executors, guardians and trustees; payment as valid discharge of savings bank.
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NRS 673.360 Administrators, executors, guardians and trustees; payment as valid discharge of savings bank.
1. A deposit account or investment certificate of any savings bank may be purchased and held by any person as administrator, executor, guardian, or as trustee or other fiduciary, in trust for a named beneficiary or beneficiaries.
2. Any person holding a deposit account as a fiduciary may make payments upon, and withdraw, in whole or in part, the deposit account or investment certificate.
3. The withdrawal value of any such deposit account or investment certificate and interest thereon, or other rights relating thereto, may be paid or delivered to the fiduciary, and the payment or delivery to the fiduciary or a receipt or acquittance signed by the fiduciary, to whom any payment or delivery of rights is made, is a valid and sufficient release and discharge of the savings bank for the payment or delivery so made.
SAFE-DEPOSIT BOXES