reglab/housing_qa huggingface dataset:
NV Rev Stat § 163.0095 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.0095 - Electronic trust.

  1. An electronic trust is a trust instrument that:  (a) Is created and maintained in an electronic record in such a manner that any alteration thereto is detectable;  (b) Contains the electronic signature of the settlor and the date and time thereof;  (c) Includes, without limitation, an authentication method which is attached to or logically associated with the trust instrument to identify the settlor or is electronically notarized in accordance with all applicable provisions of law;  (d) Is subject to the provisions of chapter 719 of NRS; and  (e) Meets the requirements set forth in this chapter for a valid trust.  2. Regardless of the physical location of the settlor, an electronic trust shall be deemed to be executed in this State and will be governed by the laws of this State and subject to the jurisdiction of the courts of this State if the electronic trust is:  (a) Transmitted to and maintained by a custodian designated in the trust instrument at the custodian’s place of business in this State or at the custodian’s residence in this State; or  (b) Maintained by the settlor at the settlor’s place of business in this State or at the settlor’s residence in this State, or by the trustee at the trustee’s place of business in this State or at the trustee’s residence in this State.  3. Notwithstanding the provisions of subsection 2, the validity of a notarial act performed by an electronic notary public must be determined by applying the laws of the jurisdiction in which the electronic notary public is commissioned or appointed.  4. The provisions of this section do not apply to a testamentary trust.  5. As used in this section:  (a) "Authentication characteristic" has the meaning ascribed to it in NRS 133.085.  (b) "Authentication method" means a method of identification using any applicable method authorized or required by law, including, without limitation, a digital certificate using a public key or a physical device, including, without limitation, a smart card, flash drive or other type of token, an authentication characteristic or another commercially reasonable method.  (c) "Public key" has the meaning ascribed to it in NRS 720.110.  (Added to NRS by 2001, 2350; A 2017, 3444)
NV Rev Stat § 163.010 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.010 - Short title.

NRS 163.010 to 163.200, inclusive, may be cited as the Uniform Trusts Act.  [20:136:1941; 1931 NCL § 7718.49] — (NRS A 1967, 763; 1999, 2367)
NV Rev Stat § 163.020 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.020 - Definitions.

As used in NRS 163.010 to 163.200, inclusive, unless the context or subject matter otherwise requires:  1. "Affiliate" means any person directly or indirectly controlling or controlled by another person, or any person under direct or indirect common control with another person. It includes any person with whom a trustee has an express or implied agreement regarding the purchase of trust investments by each from the other, directly or indirectly, except a broker or stock exchange.  2. "Relative" means a spouse, ancestor, descendant, brother or sister.  3. "Trust" means an express trust only.  4. "Trustee" means the person holding property in trust and includes trustees, a corporate as well as a natural person and a successor or substitute trustee.  [1:136:1941; 1931 NCL § 7718.30] — (NRS A 1967, 763; 1985, 510; 1999, 2367; 2015, 3543; 2019, 1863)
NV Rev Stat § 163.023 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.023 - Powers of trustee.

A trustee has the powers provided in the trust instrument, expressed by law or granted by the court upon petition, as necessary or appropriate to accomplish a purpose of the trust, but the court may not grant a power expressly prohibited by the trust instrument.  (Added to NRS by 1999, 2366)
NV Rev Stat § 163.025 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.025 - Combining or dividing certain trusts.

  1. Except as otherwise provided by the terms of the trust instrument, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts if the combination or division does not:  (a) Impair the rights of any beneficiary;  (b) Substantially affect the accomplishment of the purposes of the trust or trusts; or  (c) Violate the rule against perpetuities applicable to the trust or trusts.  2. The combination or division of trusts must be made only after giving notice of the proposed action and following the procedure set forth in NRS 164.725. The notice of the proposed action must include a summary of the anticipated tax consequences, if any, of the proposed combination or division.  (Added to NRS by 2015, 3538)
NV Rev Stat § 163.026 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.026 - Giving name to or changing name of certain trusts.

Except as otherwise specifically provided in the trust instrument and except to the extent it would be materially detrimental to the administration of the trust or to the furtherance of its purposes, a trustee may change the name of an irrevocable trust or give a name to an irrevocable trust that does not have one.  (Added to NRS by 2015, 3539)
NV Rev Stat § 163.027 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.027 - Distribution of property or money of trust: Powers of trustee; manner; consent of affected beneficiaries required for distribution without proration under certain circumstances.

  1. Except as otherwise provided in subsection 2 or in the trust, a trustee may distribute property and money:  (a) In divided or undivided interests; and  (b) With or without proration.  2. Each affected beneficiary must consent before property or money is distributed without proration unless the trust specifically authorizes the trustee to make that distribution or the distribution is otherwise authorized by law.  (Added to NRS by 1999, 2366; A 2017, 1689)
NV Rev Stat § 163.030 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.030 - Loan of money held in trust.

  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,  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.  [2:136:1941; 1931 NCL § 7718.31] — (NRS A 2009, 792)
NV Rev Stat § 163.040 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.040 - Corporate trustee may deposit with self certain money held in trust.

  1. A corporate trustee which is subject to regulation and supervision by state or federal authorities may deposit with itself trust funds which are being held necessarily pending investment, distribution, or the payment of debts, provided it pays into the trust for the deposit such interest as it is required by statute to pay on uninvested trust funds, or, if there is no statute, the same rate of interest it pays upon similar nontrust deposits, and maintains in its trust department as security for those deposits a separate fund consisting of securities legal for trust investments and at all times equal in total market value to the amount of the deposits. No security may be required to the extent that the deposit is insured or given a preference by any state or federal law.  2. The separate fund of securities must be marked as such. Withdrawals from or additions to it may be made from time to time, as long as the required value is maintained. The income of the securities belongs to the corporate trustee. In all statements of its financial condition published, or delivered to the Commissioner of Financial Institutions, the corporate trustee shall show as separate items the amount of trust funds which it has deposited with itself and the amount of securities which it holds as security for the payment of those deposits.  [3:136:1941; 1931 NCL § 7718.32] — (NRS A 1983, 1697; 1987, 1875)
NV Rev Stat § 163.050 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.050 - Trustee buying from or selling to self or affiliate.

  1. Except as otherwise provided in subsection 2, no trustee may directly or indirectly buy or sell any property for the trust from or to itself or an affiliate, or from or to a director, officer or employee of the trustee or of an affiliate, or from or to a relative, employer, partner or other business associate of a trustee, except with the prior approval of the court having jurisdiction of the trust estate.  2. If authorized by the trust instrument or consented to by all beneficiaries of the trust, a trustee may directly or indirectly buy or sell any property for the trust from or to itself or an affiliate, or from or to a director, officer or employee of the trustee or of an affiliate, or from or to a relative, employer, partner or other business associate of the trustee.  [4:136:1941; 1931 NCL § 7718.33] — (NRS A 1999, 2367; 2003, 2265; 2009, 793)
NV Rev Stat § 163.060 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.060 - Trustee selling from one trust to self as trustee of another trust.

  1. Except as otherwise provided in subsection 2 or authorized by the trust instrument, a trustee shall not as trustee of one trust sell property to itself as trustee of another trust except with the approval of the court having jurisdiction of the trust estate.  2. A bank or other corporate trustee which is subject to regulation by state or federal authorities may sell a security which is listed on a regulated stock exchange or sold over the counter by the National Association of Securities Dealers and is held by it as fiduciary in one account to itself as fiduciary in another account if the transaction is fair to the beneficiaries of both accounts and is not otherwise expressly prohibited by a particular statute.  [5:136:1941; 1931 NCL § 7718.34] — (NRS A 1981, 557; 1999, 2367)
NV Rev Stat § 163.070 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.070 - Purchase by corporate trustee of its own stocks, bonds or other securities for trust prohibited unless specifically authorized.

Except as otherwise authorized by the trust instrument or order of the court, a corporate trustee shall not purchase for a trust shares of its own stock, or its bonds or other securities, or the stock, bonds or other securities of an affiliate.  [6:136:1941; 1931 NCL § 7718.35] — (NRS A 1999, 2367)
NV Rev Stat § 163.080 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.080 - Voting stock.

A trustee owning corporate stock may vote it by proxy, but shall be liable for any loss resulting to the beneficiaries from a failure to use reasonable care in deciding how to vote the stock and in voting it.  [7:136:1941; 1931 NCL § 7718.36]
NV Rev Stat § 163.090 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.090 - Holding stock in name of nominee.

A trustee owning stock may hold it in the name of a nominee without mention of the trust in the stock certificate or stock registration books; providing that:  1. The trust records and all reports or accounts rendered by the trustee clearly show the ownership of the stock by the trustee and the facts regarding its holding; and  2. The nominee shall deposit with the trustee a signed statement showing the trust ownership.  The trustee shall be personally liable for any loss to the trust resulting from any act of such nominee in connection with stock so held.  [8:136:1941; 1931 NCL § 7718.37] — (NRS A 1961, 471)
NV Rev Stat § 163.100 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.100 - Powers of trustee attached to office.

Unless it is otherwise provided by the trust instrument or by court order, all powers of a trustee are attached to the office and are not personal.  [9:136:1941; 1931 NCL § 7718.38] — (NRS A 1999, 2368)
NV Rev Stat § 163.110 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.110 - Powers of cotrustees: Exercisable by majority if more than two cotrustees; liability of dissenting cotrustee; unanimous action required if only two cotrustees; petition of interested person.

  1. Unless it is otherwise provided by the trust instrument or by court order, any power vested in three or more trustees may be exercised by a majority of the trustees. A trustee who has not joined in exercising a power is not liable to the beneficiaries or to others for the consequences of the exercise of power and a dissenting trustee is not liable for the consequences of an act in which that trustee joined at the direction of the majority trustees, if the trustee expressed his or her dissent in writing to any of his or her cotrustees at or before the time of the joinder.  2. This section does not excuse a cotrustee from liability for inactivity in the administration of the trust nor for failure to attempt to prevent a breach of trust.  3. Except as otherwise authorized in the trust instrument or by order of the court, a power vested in two trustees may only be exercised by unanimous action.  4. If the trustees cannot exercise a power vested in them in a manner permitted by this section, an interested person may petition the court for appropriate instructions pursuant to NRS 164.010 and 164.015.  [10:136:1941; 1931 NCL § 7718.39] — (NRS A 1999, 2368)
NV Rev Stat § 163.115 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.115 - Removal of trustee; maintenance of proceeding for breach of trust by trustee; permissible purposes for maintenance of proceeding; penalties for not filing petition in good faith; nonexclusivity of remedies; method of commencing proceeding.

  1. A settlor, cotrustee or beneficiary of the trust may request the court to remove a trustee, or a trustee may be removed by the court on its own motion pursuant to subsection 2.  2. The court may remove a trustee if:  (a) The trustee commits or threatens to commit a breach of trust;  (b) Lack of cooperation between cotrustees substantially impairs the administration of the trust; or  (c) Because of unfitness, unwillingness or persistent failure of the trustee to administer the trust effectively, the court determines that removal of the trustee best serves the interests of the settlor or beneficiaries.  3. If a trustee commits or threatens to commit a breach of trust, a beneficiary or cotrustee of the trust may maintain a proceeding for any of the following purposes that is appropriate:  (a) To compel the trustee to perform his or her duties.  (b) To enjoin the trustee from committing the breach of trust.  (c) To compel the trustee to redress the breach of trust by payment of money or otherwise.  (d) To appoint a receiver or temporary trustee to take possession of the trust property and administer the trust.  (e) To remove the trustee.  (f) To set aside acts of the trustee.  (g) To reduce or deny compensation of the trustee.  (h) To impose an equitable lien or a constructive trust on trust property.  (i) To trace trust property that has been wrongfully disposed of and recover the property or its proceeds.  4. If the court determines that a proceeding instituted pursuant to subsection 1 by a settlor, cotrustee or beneficiary of the trust against a trustee was not instituted in good faith and based on probable cause, the court may order that the settlor, cotrustee or beneficiary who is maintaining the proceeding against a trustee pay all or part of the costs of the proceeding, including, without limitation, reasonable attorney’s fees. The provisions of this subsection do not preclude any other remedy available.  5. The provisions of subsections 2 and 3 do not preclude resort to any other appropriate ground or remedy provided by statute or common law.  6. A proceeding under this section must be commenced by filing or bringing in conjunction with the filing of a petition under NRS 164.010 and 164.015.  (Added to NRS by 1999, 2365; A 2017, 1689; 2019, 1863)
NV Rev Stat § 163.117 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.117 - Ex parte order restraining trustee from taking certain actions.

  1. On petition or ex parte application of a beneficiary or trustee, the court, with or without bond, may enter an ex parte order restraining a trustee from performing specified acts of administration, disbursement or distribution, or exercising any powers or discharging any duties of the office, or enter any other order to secure proper performance of the duties of the office to be effective until further order of the court. Notwithstanding any other provision of law, if it appears to the court that the trustee otherwise may take action that would jeopardize unreasonably the interest of the petitioner, another beneficiary or the trust, the court may enter the ex parte order. A person with whom the personal representative may transact business may be made a party to the ex parte order.  2. An ex parte order entered pursuant to subsection 1 must be set for hearing within 10 days after entry of the ex parte order, unless the parties otherwise agree, or on a date the court otherwise determines is in the best interest of the trust.  3. Notice of entry of the ex parte order entered pursuant to subsection 1 must be given by the petitioner or applicant to the trustee and the attorney of record of the trustee, if any, to any other party named as a party in the ex parte order and as otherwise directed by the court.  4. The court may impose a fine on a beneficiary or trustee who obtains an ex parte order pursuant to this section without probable cause.  5. The court may, at any time, terminate an ex parte order entered pursuant to subsection 1 on its own motion or upon petition of the trustee if it no longer appears to the court that the trustee otherwise may take action that would jeopardize unreasonably the interest of the petitioner, another beneficiary or the trust.  (Added to NRS by 2019, 1859)
NV Rev Stat § 163.120 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.120 - Claims based on certain contracts or obligations: Assertion against trust; entry of judgment; notice; intervention; personal liability of trustee; significance of use of certain terms.

  1. A claim based on a contract entered into by a trustee in the capacity of representative, or on an obligation arising from ownership or control of trust property, may be asserted against the trust by proceeding against the trustee in the capacity of representative, whether or not the trustee is personally liable on the claim.  2. A judgment may not be entered in favor of the plaintiff in the action unless the plaintiff proves that within 30 days after filing the action, or within 30 days after the filing of a report of an early case conference if one is required, whichever is longer, or within such other time as the court may fix, and more than 30 days before obtaining the judgment, the plaintiff notified each of the beneficiaries known to the trustee who then had a present interest, or in the case of a charitable trust, the Attorney General and any corporation which is a beneficiary or agency in the performance of the charitable trust, of the existence and nature of the action. The notice must be given by mailing copies to the beneficiaries at their last known addresses. The trustee shall furnish the plaintiff a list of the beneficiaries to be notified, and their addresses, within 10 days after written demand therefor, and notification of the persons on the list constitutes compliance with the duty placed on the plaintiff by this section. Any beneficiary, or in the case of charitable trusts the Attorney General and any corporation which is a beneficiary or agency in the performance of the charitable trust, may intervene in the action and contest the right of the plaintiff to recover.  3. Except as otherwise provided in this chapter or in the contract, a trustee is not personally liable on a contract properly entered into in the capacity of representative in the course of administration of the trust unless the trustee fails to reveal the representative capacity or identify the trust in the contract. The addition of the word "trustee" or the words "as trustee" after the signature of a trustee to a contract are prima facie evidence of an intent to exclude the trustee from personal liability.  [11:136:1941; 1931 NCL § 7718.40] — (NRS A 1999, 2368)
NV Rev Stat § 163.130 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.130 - Exoneration or reimbursement of trustee for tort.

  1. A trustee who has incurred personal liability for a tort committed in the administration of the trust is entitled to exoneration therefor from the trust property if the trustee has not discharged the claim, or to be reimbursed therefor out of trust funds if the trustee has paid the claim, if:  (a) The tort was a common incident of the kind of business activity in which the trustee was properly engaged for the trust;  (b) Although the tort was not a common incident of such activity, neither the trustee nor any officer or employee of the trustee was guilty of personal fault in incurring the liability; or  (c) The trust instrument authorizes the exoneration or reimbursement of a trustee and the actions of the trustee did not constitute willful misconduct or gross negligence.  2. If a trustee commits a tort which increases the value of the trust property, the trustee shall be entitled to exoneration or reimbursement with respect thereto to the extent of such increase in value, even though the trustee would not otherwise be entitled to exoneration or reimbursement.  3. Nothing in this section shall be construed to change the existing law with regard to the liability of trustees of charitable trusts for torts of themselves or their employees.  [12:136:1941; 1931 NCL § 7718.41] — (NRS A 2017, 1690)