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.

Source: Section 163.040 — Corporate trustee may deposit with self certain money held in trust., https://www.­leg.­state.­nv.­us/NRS/NRS-163.­html#NRS163Sec040.

163.010
Short title. 163.020
Definitions. 163.023
Powers of trustee. 163.025
Combining or dividing certain trusts. 163.026
Giving name to or changing name of certain trusts. 163.027
Distribution of property or money of trust: Powers of trustee 163.030
Loan of money held in trust. 163.040
Corporate trustee may deposit with self certain money held in trust. 163.050
Trustee buying from or selling to self or affiliate. 163.060
Trustee selling from one trust to self as trustee of another trust. 163.070
Purchase by corporate trustee of its own stocks, bonds or other securities for trust prohibited unless specifically authorized. 163.080
Voting stock. 163.090
Holding stock in name of nominee. 163.100
Powers of trustee attached to office. 163.110
Powers of cotrustees: Exercisable by majority if more than two cotrustees 163.115
Removal of trustee 163.117
Ex parte order restraining trustee from taking certain actions. 163.120
Claims based on certain contracts or obligations: Assertion against trust 163.130
Exoneration or reimbursement of trustee for tort. 163.140
Commission of tort by trustee or predecessor: Prerequisites to suit and collection from trust property 163.145
Using power to appoint or distribute income to discharge own legal obligation prohibited. 163.150
Withdrawal from mingled money of multiple trusts. 163.160
Power of settlor 163.170
Power of beneficiary. 163.180
Power of court. 163.185
Power of court to order termination and distribution of trust before time provided in trust instrument. 163.187
Termination of trust when value of trust property insufficient to justify cost of administration. 163.190
Penalty for violation of certain provisions of chapter. 163.200
Uniformity of interpretation.
Last Updated

Feb. 5, 2021

§ 163.040’s source at nv​.us