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.

Source: Section 163.130 — Exoneration or reimbursement of trustee for tort., https://www.­leg.­state.­nv.­us/NRS/NRS-163.­html#NRS163Sec130.

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

§ 163.130’s source at nv​.us