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2022 Nevada Revised Statutes
Chapter 163 - Trusts
NRS 163.5548 - Circumstances under which fiduciary is "directed fiduciary."
Universal Citation: NV Rev Stat § 163.5548 (2022)
For the purposes of NRS 163.553 to 163.557, inclusive, a fiduciary is a "directed fiduciary" with respect to any action that the fiduciary:
1. Has no power to take under the terms of the governing instrument;
2. Is mandated by the governing instrument and for which the fiduciary has no discretion to act otherwise; and
3. Is directed to take or prohibited from taking by a directing trust adviser.
(Added to NRS by 2015, 3539)
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