NRS 88A.370
Duties and liabilities of officer, employee, manager or other person acting pursuant to certificate of trust or governing instrument.

To the extent that, at law or in equity, an officer, employee, manager or other person acting pursuant to the certificate of trust or a governing instrument has duties, fiduciary or otherwise, and liabilities relating thereto to a business trust, beneficial owner or trustee:

1.

If such a person acts pursuant to a governing instrument, the person is not liable to the business trust, a beneficial owner or a trustee for the person’s reliance in good faith on the provisions of the governing instrument; and

2.

The duties and liabilities of such a person may be expanded or restricted by provisions in the governing instrument.

Source: Section 88A.370 — Duties and liabilities of officer, employee, manager or other person acting pursuant to certificate of trust or governing instrument., https://www.­leg.­state.­nv.­us/NRS/NRS-88A.­html#NRS88ASec370.

88A.010
Definitions. 88A.020
“Beneficial owner” defined. 88A.030
“Business trust” defined. 88A.040
“Foreign business trust” defined. 88A.050
“Governing instrument” defined. 88A.057
“Registered agent” defined. 88A.060
“Registered office” defined. 88A.110
“Trustee” defined. 88A.150
Applicability of chapter to foreign and interstate commerce. 88A.160
Applicability of laws pertaining to trusts 88A.170
Provisions of chapter may be altered or repealed. 88A.200
Purpose 88A.210
Filing requirements 88A.215
Penalty for purporting to do business as business trust without filing certificate of trust 88A.220
Amendment and restatement of certificate of trust. 88A.230
Name of trust: Distinguishable name required 88A.240
Name of trust: Reservation 88A.250
Certificate of amendment, restatement or cancellation and articles of merger: Filing and effectiveness of certificates and articles. 88A.260
Perpetual existence of trust 88A.270
Governing instrument: Optional provisions. 88A.280
Governing instrument: Optional provisions relating to management of trust and rights, duties and obligations of trustees, beneficial owners and other persons. 88A.300
General powers. 88A.310
Management of business and affairs by trustees 88A.320
Ownership of beneficial interest in trust: Participation in profits and losses 88A.330
Beneficial owners: Contributions to trust 88A.340
Maintenance of records at principal office in State or with custodian of records. 88A.345
Information concerning records 88A.350
Right of beneficial owners to inspect and copy ledger 88A.360
Duties and liabilities of trustee. 88A.370
Duties and liabilities of officer, employee, manager or other person acting pursuant to certificate of trust or governing instrument. 88A.380
Enforceability of debts, liabilities, obligations and expenses against assets of series of trustees, beneficial owners or beneficial interests. 88A.390
Liability of beneficial owner, trustee, officer, agent, manager or employee for debts or liabilities of trust. 88A.400
Indemnification of trustee, beneficial owner or other person. 88A.410
Derivative actions: Authority of beneficial owner to bring action 88A.420
Cancellation of certificate of trust upon termination of trust. 88A.500
Requirement 88A.520
Powers 88A.530
Resignation of registered agent or termination of registration of commercial registered agent. 88A.600
Filing requirements 88A.610
Certificate of authorization to transact business. 88A.620
Addresses of trustees required 88A.630
Defaulting trusts: Identification 88A.640
Defaulting trusts: Duties of Secretary of State 88A.650
Defaulting trusts: Conditions and procedure for reinstatement. 88A.660
Defaulting trusts: Reinstatement or revival under old or new name. 88A.665
Cancellation of revoked certificate of trust without additional fees and penalties 88A.700
Laws governing organization, internal affairs and liability of beneficial owners, trustees, officers, employees and managers. 88A.710
Filing requirements 88A.720
Issuance of certificate of registration by Secretary of State. 88A.730
Registration of name. 88A.732
Annual list: Filing requirements 88A.733
Certificate of authorization to transact business. 88A.734
Addresses of trustees required 88A.735
Defaulting trusts: Identification 88A.736
Defaulting trusts: Duties of Secretary of State. 88A.737
Defaulting trusts: Conditions and procedure for reinstatement. 88A.738
Defaulting trusts: Reinstatement or revival under old or new name 88A.739
Cancellation of revoked registration without additional fees and penalties 88A.740
Cancellation of registration. 88A.745
Renewal or revival of right to transact business: Procedure 88A.750
Penalty for transacting business without registration 88A.890
Form required for filing of records. 88A.900
Fees. 88A.910
Manner in which record may be filed. 88A.920
Procedure to submit replacement page to Secretary of State before actual filing of record. 88A.930
Correction of inaccurate or defective record filed with Secretary of State 88A.935
Manner of storage of records 88A.940
Secretary of State authorized to adopt certain regulations to allow business trust to carry out powers and duties through most recent technology. 88A.950
Renewal or revival of certificate: Procedure 88A.7345
List or statement to be maintained at principal place of business or with custodian of records
Last Updated

Jun. 24, 2021

§ 88A.370’s source at nv​.us