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.

Source: Section 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., https://www.­leg.­state.­nv.­us/NRS/NRS-163.­html#NRS163Sec110.

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

§ 163.110’s source at nv​.us