NRS 166A.200
Form and effect of receipt and acceptance by custodial trustee

  • jurisdiction.

1.

Obligations of a custodial trustee, including, without limitation, the obligation to follow the directions of the beneficiary, arise under this chapter upon the custodial trustee’s acceptance, express or implied, of the custodial trust property.

2.

The custodial trustee’s acceptance may be evidenced by a writing stating in substance:
[Text not available]
CUSTODIAL TRUSTEE’S RECEIPT AND ACCEPTANCE
[Text not available]
I, ____________ (name of custodial trustee), acknowledge receipt of the custodial trust property described below or in the attached instrument and accept the custodial trust as custodial trustee for _________ (name of beneficiary) under the Nevada Uniform Custodial Trust Act. I undertake to administer and distribute the custodial trust property pursuant to the Nevada Uniform Custodial Trust Act. My obligations as custodial trustee are subject to the directions of the beneficiary unless the beneficiary is designated as, is or becomes incapacitated. The custodial trust property consists of _________________________.
[Text not available]
Dated:______________________
[Text not available]
(Signature of Custodial Trustee)
[Text not available]

3.

Upon accepting custodial trust property, a person designated as custodial trustee under this chapter is subject to personal jurisdiction of the court with respect to any matter relating to the custodial trust.

Source: Section 166A.200 — Form and effect of receipt and acceptance by custodial trustee; jurisdiction., https://www.­leg.­state.­nv.­us/NRS/NRS-166A.­html#NRS166ASec200.

166A.010
Short title. 166A.020
Definitions. 166A.030
“Adult” defined. 166A.040
“Beneficiary” defined. 166A.050
“Conservator” defined. 166A.060
“Court” defined. 166A.070
“Custodial trust property” defined. 166A.080
“Custodial trustee” defined. 166A.090
“Guardian” defined. 166A.100
“Incapacitated” defined. 166A.110
“Legal representative” defined. 166A.120
“Member of the beneficiary’s family” defined. 166A.130
“Person” defined. 166A.140
“Personal representative” defined. 166A.150
“State” defined. 166A.160
“Transferor” defined. 166A.170
“Trust company” defined. 166A.180
Custodial trust 166A.190
Custodial trustee for future payment or transfer. 166A.200
Form and effect of receipt and acceptance by custodial trustee 166A.210
Transfer to custodial trustee by fiduciary or obligor 166A.220
Multiple beneficiaries 166A.230
General duties of custodial trustee. 166A.240
General powers of custodial trustee. 166A.250
Use of custodial trust property. 166A.260
Determination of incapacity 166A.270
Exemption of third person from liability. 166A.280
Liability to third person. 166A.290
Declination, resignation, incapacity, death or removal of custodial trustee 166A.300
Expenses, compensation and bond of custodial trustee. 166A.310
Reporting and accounting by custodial trustee 166A.320
Limitations of action against custodial trustee. 166A.330
Distribution on termination. 166A.340
Methods and forms for creating custodial trusts. 166A.350
Applicable law. 166A.360
Uniformity of application and construction.
Last Updated

Jun. 24, 2021

§ 166A.200’s source at nv​.us