Skip to main content
Find a Lawyer

Nevada Revised Statutes Title 13. Guardianships; Conservatorships; Trusts § 163.5549. Limitations on liability of directed fiduciary

Current as of January 01, 2025 | Updated by Findlaw Staff

1. A directed fiduciary is not liable, individually or as a fiduciary for any loss which results from:

(a) Complying with a direction of a directing trust adviser, whether the direction is to act or to not act; or

(b) Failing to take any action proposed by a directed fiduciary if the action:

(1) Required the approval, consent or authorization of a person who did not provide the approval, consent or authorization; or

(2) Was contingent upon a condition that was not met or satisfied.

2. A directed fiduciary is not liable for any obligation to perform an investment or suitability review, inquiry or investigation or to make any recommendation or evaluation with respect to any investment, to the extent that the investment is made by a directing trust adviser.

3. The provisions of this section do not impose an obligation or liability on a custodian of a custodial account for providing any authorization.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Nevada Revised Statutes Title 13. Guardianships; Conservatorships; Trusts § 163.5549. Limitations on liability of directed fiduciary - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-13-guardianships-conservatorships-trusts/nv-rev-st-163-5549/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard