NRS 120.280
Disclaimer of power held in fiduciary capacity.

1.

If a fiduciary disclaims a power held in a fiduciary capacity which has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.

2.

If a fiduciary disclaims a power held in a fiduciary capacity which has been exercised, the disclaimer takes effect immediately after the last exercise of the power.

3.

A disclaimer under this section is effective as to another fiduciary if the disclaimer so provides and the fiduciary disclaiming has the authority to bind the estate, trust or other person for whom the fiduciary is acting.

Source: Section 120.280 — Disclaimer of power held in fiduciary capacity., https://www.leg.state.nv.us/NRS/NRS-120.html#NRS120Sec280.

120.100
Short title. 120.110
Definitions. 120.120
“Disclaimant” defined. 120.130
“Disclaimed interest” defined. 120.140
“Disclaimer” defined. 120.150
“Fiduciary” defined. 120.160
“Jointly held property” defined. 120.170
“Person” defined. 120.180
“State” defined. 120.190
“Trust” defined. 120.200
Scope. 120.210
Chapter supplemented by other law. 120.220
Power to disclaim 120.230
Disclaimer of interest in property. 120.240
Disclaimer of rights of survivorship in jointly held property. 120.250
Disclaimer of interest by trustee. 120.260
Disclaimer of power of appointment or other power not held in fiduciary capacity. 120.270
Disclaimer by appointee, object or taker in default of exercise of power of appointment. 120.280
Disclaimer of power held in fiduciary capacity. 120.290
Delivery or filing. 120.300
When disclaimer barred or limited. 120.310
Tax qualified disclaimer. 120.320
Recording of disclaimer. 120.330
Application to existing relationships. 120.340
Relation to Electronic Signatures in Global and National Commerce Act. 120.350
Uniformity of application and construction.

Last Updated

Feb. 5, 2021

§ 120.280’s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_120.280

Original Source: Section 120.280 — Disclaimer of power held in fiduciary capacity., https://www.leg.state.nv.us/NRS/NRS-120.html#NRS120Sec280 (last accessed Feb. 5, 2021).