NRS 166A.270
Exemption of third person from liability.

A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining:

1.

The validity of the purported custodial trustee’s designation;

2.

The propriety of, or the authority under this chapter for, any action of the purported custodial trustee;

3.

The validity or propriety of an instrument executed or instruction given pursuant to this chapter either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or

4.

The propriety of the application of property vested in the purported custodial trustee.

Source: Section 166A.270 — Exemption of third person from liability., https://www.­leg.­state.­nv.­us/NRS/NRS-166A.­html#NRS166ASec270.

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.270’s source at nv​.us