NRS 166A.320
Limitations of action against custodial trustee.


1.

Except as otherwise provided in subsection 3, unless previously barred by adjudication, consent or limitation, a claim for relief against a custodial trustee for accounting or breach of duty is barred as to a beneficiary, a person to whom custodial trust property is to be paid or delivered or the legal representative of an incapacitated or deceased beneficiary or payee:

(a)

Who has received a final account or statement fully disclosing the matter unless an action or proceeding to assert the claim is commenced within 2 years after receipt of the final account or statement; or

(b)

Who has not received a final account or statement fully disclosing the matter unless an action or proceeding to assert the claim is commenced within 3 years after the termination of the custodial trust.

2.

Except as otherwise provided in subsection 3, a claim for relief to recover from a custodial trustee for fraud, misrepresentation or concealment related to the final settlement of the custodial trust or concealment of the existence of the custodial trust is barred unless an action or proceeding to assert the claim is commenced within 5 years after the termination of the custodial trust.

3.

A claim for relief is not barred by this section if the claimant:

(a)

Is a minor, until the earlier of 2 years after the claimant becomes an adult or dies;

(b)

Is an incapacitated adult, until the earliest of 2 years after:

(1)

The appointment of a conservator;

(2)

The removal of the incapacity; or

(3)

The death of the claimant; or

(c)

Was an adult, now deceased, who was not incapacitated, until 2 years after the claimant’s death.

Source: Section 166A.320 — Limitations of action against custodial trustee., https://www.­leg.­state.­nv.­us/NRS/NRS-166A.­html#NRS166ASec320.

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.320’s source at nv​.us