reglab/housing_qa huggingface dataset:
NV Rev Stat § 164.090 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.090 - Accountings.

Unless ordered by a court of competent jurisdiction, the bank or trust company operating common trust funds is not required to render a court accounting with regard to those funds, but it may, by petition to the court, secure approval of such an accounting on such conditions as the court may establish.  [3:21:1955] — (NRS A 1999, 2379)
NV Rev Stat § 164.100 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.100 - Uniformity of interpretation.

NRS 164.070 to 164.100, inclusive, must be so interpreted and construed as to effectuate their general purpose to make uniform the law of those states which enact them.  [4:21:1955] — (NRS A 1999, 2380)
NV Rev Stat § 164.130 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.130 - Transfer by court to district court in this State or court outside Nevada.

Upon petition by any trustee or beneficiary, a court having jurisdiction of a trust may transfer supervision of the trust to:  1. Any district court within the State, or to any court outside Nevada which accepts jurisdiction over the trust, when the convenience of beneficiaries, trustees, attorneys or other interested persons makes a transfer desirable.  2. A district court within this State having jurisdiction of the guardianship of a protected person who is currently a beneficiary of the trust and is receiving or is entitled to receive distributions, if the district court has not assumed jurisdiction pursuant to NRS 159.339 or 159A.339.  (Added to NRS by 1967, 205; A 1977, 570; 1999, 2380; 2007, 894; 2017, 1237)
NV Rev Stat § 164.400 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.400 - Presentation; effect; form.

  1. Except in connection with an application for benefits pursuant to chapter 422 or 422A of NRS, a trustee may present a certification of trust to any person, in lieu of a copy of any trust instrument, to establish the existence or terms of the trust. The trustee may present the certification voluntarily or at the request of the person with whom the trustee is dealing.  2. Such a certification must be in the form of an affidavit signed and acknowledged by all of the currently acting trustees of the trust.  (Added to NRS by 1995, 211; A 2005, 22nd Special Session, 49)
NV Rev Stat § 164.410 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.410 - Contents.

  1. A certification of trust may confirm the following facts or contain the following information:  (a) The existence of the trust and date of execution of any trust instrument;  (b) The identity of the settlor and each currently acting trustee;  (c) The powers of the trustee and any restrictions imposed upon the trustee in dealing with assets of the trust;  (d) The revocability or irrevocability of the trust and the identity of any person holding a power to revoke it;  (e) If there is more than one trustee, whether all of the currently acting trustees must or less than all may act to exercise identified powers of the trustee;  (f) A declaration regarding the situs or domicile of the trust and regarding the law that governs the validity, construction and administration of the trust; and  (g) The form in which title to assets of the trust is to be taken.  2. The certification must contain a statement that the trust has not been revoked or amended to make any representations contained in the certification incorrect, and that the signatures are those of all the currently acting trustees.  (Added to NRS by 1995, 211; A 2015, 3554)
NV Rev Stat § 164.420 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.420 - Dispositive provisions not required; person presented with certification may request excerpts from trust instrument designating trustee.

A certification of trust need not contain the dispositive provisions of the trust, but the person to whom the certification is presented may require copies of excerpts from any trust instrument which designate the trustee or confer upon him or her the power to act in the pending transaction.  (Added to NRS by 1995, 212)
NV Rev Stat § 164.430 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.430 - Reliance upon facts contained in certification; enforceability.

  1. A person who acts in reliance upon a certification of trust without knowledge that the representations contained therein are incorrect is not liable to any person for so acting. A person who does not know that the facts contained in the certification are incorrect may assume without inquiry the existence of the facts contained in the certification. Knowledge may not be inferred solely from the fact that a copy of all or part of a trust instrument is held by the person relying upon the certification.  2. A transaction, and any lien created thereby, entered into by a trustee and a person acting in reliance upon a certification of trust is fully enforceable against the assets of the trust unless the person knows that the trustee is acting outside the scope of the trust.  (Added to NRS by 1995, 212)
NV Rev Stat § 164.440 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.440 - Failure to demand certification not improper act; liability.

A person’s failure to demand a certification of trust may not be considered to be an improper act by the person and no inference as to whether the person has acted in good faith may be drawn from the failure to demand a certification of trust. This section creates no implication that a person is liable for acting in reliance upon a certification of trust under circumstances where the requirements of NRS 164.400 to 164.430, inclusive, are not satisfied.  (Added to NRS by 1995, 212)
NV Rev Stat § 164.640 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.640 - Short title.

The provisions of NRS 164.640 to 164.680, inclusive, may be cited as the Uniform Prudent Management of Institutional Funds Act.  (Added to NRS by 2007, 112)
NV Rev Stat § 164.643 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.643 - Definitions.

As used in NRS 164.640 to 164.680, inclusive, unless the context otherwise requires, the words and terms defined in NRS 164.645 to 164.663, inclusive, have the meanings ascribed to them in those sections.  (Added to NRS by 2007, 112)
NV Rev Stat § 164.645 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.645 - "Charitable purpose" defined.

Charitable purpose means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose or any other purpose the achievement of which is beneficial to the community.  (Added to NRS by 2007, 112)
NV Rev Stat § 164.647 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.647 - "Endowment fund" defined.

Endowment fund means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment fund for its own use.  (Added to NRS by 2007, 112)
NV Rev Stat § 164.650 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.650 - "Gift instrument" defined.

Gift instrument means a record or records, including, without limitation, an institutional solicitation, under which property is granted to, transferred to or held by an institution as an institutional fund.  (Added to NRS by 2007, 112)
NV Rev Stat § 164.653 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.653 - "Institution" defined.

Institution means:  1. A person, other than an individual, organized and operated exclusively for charitable purposes;  2. A government or governmental subdivision, agency or instrumentality, to the extent that it holds funds exclusively for a charitable purpose; and  3. A trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated.  (Added to NRS by 2007, 112)
NV Rev Stat § 164.655 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.655 - "Institutional fund" defined.

Institutional fund means a fund held by an institution exclusively for charitable purposes. The term does not include:  1. Program-related assets;  2. A fund held for an institution by a trustee that is not an institution; or  3. A fund in which a beneficiary that is not an institution has an interest, other than an interest that could arise upon violation or failure of the purposes of the fund.  (Added to NRS by 2007, 112)
NV Rev Stat § 164.657 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.657 - "Person" defined.

Person means an individual, corporation, business trust, estate, trust, partnership, limited-liability company, association, joint venture, public corporation, government or governmental subdivision, agency or instrumentality, or any other legal or commercial entity.  (Added to NRS by 2007, 113)
NV Rev Stat § 164.660 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.660 - "Program-related asset" defined.

Program-related asset means an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for investment.  (Added to NRS by 2007, 113)
NV Rev Stat § 164.663 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.663 - "Record" defined.

Record means information which is inscribed on a tangible medium or which is stored in an electronic or other medium and is retrievable in perceivable form.  (Added to NRS by 2007, 113)
NV Rev Stat § 164.667 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.667 - Appropriation for expenditure or accumulation of endowment fund; rules of construction.

  1. Subject to the intent of a donor expressed in the gift instrument and to subsection 4, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes and duration for which the endowment fund is established. Unless stated otherwise in the gift instrument, the assets in an endowment fund are donor-restricted assets until appropriated for expenditure by the institution. In making a determination to appropriate or accumulate, the institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, and shall consider, if relevant, the following factors:  (a) The duration and preservation of the endowment fund;  (b) The purposes of the institution and the endowment fund;  (c) General economic conditions;  (d) The possible effect of inflation or deflation;  (e) The expected total return from income and the appreciation of investments;   (f) Other resources of the institution; and  (g) The investment policy of the institution.  2. To limit the authority to appropriate for expenditure or accumulate under subsection 1, a gift instrument must specifically state the limitation.  3. Terms in a gift instrument designating a gift as an endowment, or a direction or authorization in the gift instrument to use only "income," "interest," "dividends," or "rents, issues or profits," or "to preserve the principal intact," or words of similar import:  (a) Create an endowment fund of permanent duration unless other language in the gift instrument limits the duration or purpose of the fund; and  (b) Do not otherwise limit the authority to appropriate for expenditure or accumulate under subsection 1.  4. The appropriation for expenditure in any year of an amount greater than 7 percent of the fair market value of an endowment fund, calculated on the basis of market values determined at least quarterly and averaged over a period of not less than 3 years immediately preceding the year in which the appropriation for expenditure was made, creates a rebuttable presumption of imprudence. For an endowment fund in existence for less than 3 years, the fair market value of the endowment fund must be calculated for the period the endowment fund has been in existence. This subsection does not:  (a) Apply to an appropriation for expenditure permitted under law other than NRS 164.640 to 164.680, inclusive, or by the gift instrument; or  (b) Create a presumption of prudence for an appropriation for expenditure of an amount less than or equal to 7 percent of the fair market value of the endowment fund.  (Added to NRS by 2007, 114)
NV Rev Stat § 164.670 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.670 - Delegation of management and investment functions.

  1. Subject to any specific limitation set forth in a gift instrument or in law other than NRS 164.640 to 164.680, inclusive, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, in:  (a) Selecting an agent;  (b) Establishing the scope and terms of the delegation, consistent with the purposes of the institution and the institutional fund; and  (c) Periodically reviewing the agent’s actions in order to monitor the agent’s performance and compliance with the scope and terms of the delegation.  2. In performing a delegated function, an agent owes a duty to the institution to exercise reasonable care to comply with the scope and terms of the delegation.  3. An institution that complies with subsection 1 is not liable for the decisions or actions of an agent to which the function was delegated.  4. By accepting delegation of a management or investment function from an institution that is subject to the laws of this State, an agent submits to the jurisdiction of the courts of this State in all proceedings arising from or related to the delegation or the performance of the delegated function.  5. An institution may delegate management and investment functions to its committees, officers or employees as authorized by law of this State other than NRS 164.640 to 164.680, inclusive.  (Added to NRS by 2007, 115)
NV Rev Stat § 164.673 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.673 - Release or modification of restrictions on management, investment or purpose.

  1. If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment or purpose of an institutional fund. A release or modification may not allow a fund to be used for a purpose other than a charitable purpose of the institution.  2. The court, upon application of an institution, may modify a restriction contained in a gift instrument regarding the management or investment of an institutional fund if the restriction has become impracticable or wasteful, if it impairs the management or investment of the fund or if, because of circumstances not anticipated by the donor, a modification of a restriction will further the purposes of the fund. The institution shall notify the Attorney General of the application, and the Attorney General must be given an opportunity to be heard. To the extent practicable, any modification must be made in accordance with the donor’s probable intention.  3. If a particular charitable purpose or a restriction contained in a gift instrument on the use of an institutional fund becomes unlawful, impracticable, impossible to achieve or wasteful, the court, upon application of an institution, may modify the purpose of the fund or the restriction on the use of the fund in a manner consistent with the charitable purposes expressed in the gift instrument. The institution shall notify the Attorney General of the application, and the Attorney General must be given an opportunity to be heard.  4. If an institution determines that a restriction contained in a gift instrument on the management, investment or purpose of an institutional fund is unlawful, impracticable, impossible to achieve or wasteful, the institution, 60 days after notification to the Attorney General, may release or modify the restriction, in whole or part, if:  (a) The institutional fund subject to the restriction has a total value of less than $25,000;  (b) More than 20 years have elapsed since the fund was established; and  (c) The institution uses the property in a manner consistent with the charitable purposes expressed in the gift instrument.  (Added to NRS by 2007, 115)
NV Rev Stat § 164.675 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.675 - Reviewing compliance.

Compliance with NRS 164.640 to 164.680, inclusive, is determined in light of the facts and circumstances existing at the time a decision is made or action is taken, and not by hindsight.  (Added to NRS by 2007, 116)
NV Rev Stat § 164.677 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.677 - Relation to Electronic Signatures in Global and National Commerce Act.

The provisions ofNRS 164.640 to 164.680, inclusive, modify, limit and supersede the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. §§ 7001 et seq., but do not modify, limit or supersede Section 101 of that Act, 15 U.S.C. § 7001(a), or authorize electronic delivery of any of the notices described in Section 103 of that Act, 15 U.S.C. § 7003(b).  (Added to NRS by 2007, 116)
NV Rev Stat § 164.680 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.680 - Uniformity of application and construction.

In applying and construing the Uniform Prudent Management of Institutional Funds Act, 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, 116)
NV Rev Stat § 164.700 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.700 - Definitions.

As used in NRS 164.700 to 164.925, inclusive:  1. "Fiduciary" means a trustee or, to the extent that NRS 164.780 to 164.925, inclusive, apply to an estate, a personal representative.  2. "Terms of a trust" means the manifestation of the intent of a settlor or decedent with respect to the trust, expressed in a manner that admits of its proof in a judicial proceeding, whether by written or spoken words or by conduct.  3. "Unitrust" means a trust in which a certain percentage of annually assessed fair market value of trust property is paid to a trust beneficiary.  (Added to NRS by 2003, 1965; A 2009, 799)
NV Rev Stat § 164.705 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.705 - Short title.

NRS 164.700 to 164.775, inclusive, may be cited as the Uniform Prudent Investor Act.  (Added to NRS by 2003, 1967)
NV Rev Stat § 164.710 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.710 - Administration of trust or estate by fiduciary in accordance with its terms or in accordance with provisions of NRS.

In performing his or her duties under NRS 164.700 to 164.925, inclusive, a fiduciary:  1. Shall administer a trust or estate in accordance with the terms of the trust or the will, even if there is a different provision in NRS 164.700 to 164.925, inclusive;  2. May administer a trust or estate by the exercise of a discretionary power of administration given to the fiduciary by the terms of the trust or the will, even if the exercise of the power produces a result different from a result required or permitted by NRS 164.700 to 164.925, inclusive; and  3. Shall administer a trust or estate in accordance with NRS 164.700 to 164.925, inclusive, if the terms of the trust or the will do not contain a different provision or do not give the fiduciary a discretionary power of administration.  (Added to NRS by 2003, 1965)
NV Rev Stat § 164.715 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.715 - Acting in interest of beneficiaries.

A trustee shall invest and manage the trust property solely in the interest of the beneficiaries.  (Added to NRS by 2003, 1966)
NV Rev Stat § 164.720 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.720 - Trust having two or more beneficiaries; impartial administration of trust or estate.

  1. If a trust has two or more beneficiaries, the trustee shall act impartially in investing and managing the trust property, taking into account any differing interests of the beneficiaries.  2. In exercising the power to adjust under NRS 164.795 or 164.796 or a discretionary power of administration regarding a matter within the scope of NRS 164.780 to 164.925, inclusive, whether granted by the terms of a trust, a will or NRS 164.780 to 164.925, inclusive, a fiduciary shall administer a trust or estate impartially, based on what is fair and reasonable to all the beneficiaries, except to the extent that the terms of the trust or the will clearly manifest an intention that the fiduciary shall or may favor one or more of the beneficiaries. A determination in accordance with NRS 164.780 to 164.925, inclusive, is presumed to be fair and reasonable to all the beneficiaries.  (Added to NRS by 2003, 1966; A 2009, 799)
NV Rev Stat § 164.730 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.730 - No duty to make adjustment between principal and income; trustee immunity from liability.

  1. The provisions of NRS 164.700 to 164.925, inclusive, do not impose or create a duty of a trustee to make an adjustment between principal and income pursuant to the provisions of NRS 164.795 or 164.796.  2. A trustee shall not be liable for:  (a) Not considering whether to make such an adjustment; or  (b) Deciding not to make such an adjustment.  (Added to NRS by 2003, 1967; A 2009, 801)
NV Rev Stat § 164.735 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.735 - Applicability.

Except as specifically provided in a trust instrument, a will or NRS 164.700 to 164.925, inclusive, the provisions of NRS 164.700 to 164.925, inclusive, apply to any trust or estate of a decedent existing on or after October 1, 2003.  (Added to NRS by 2003, 1967)
NV Rev Stat § 164.740 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.740 - Duty to comply with prudent investor rule; circumstances under which trustee is immune from liability.

Except as otherwise provided in chapter 669A of NRS, a trustee who invests and manages trust property owes a duty to the beneficiaries of the trust to comply with the prudent investor rule as set forth in NRS 164.700 to 164.775, inclusive, but a trustee is not liable to a beneficiary to the extent that the trustee:  1. Acted in reasonable reliance on the terms of the trust or a court order; and  2. Determined in good faith to not diversify the investments of a trust pursuant to NRS 164.750.  (Added to NRS by 2003, 1967; A 2011, 1817; 2015, 3555)