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Current as of January 01, 2025 | Updated by Findlaw Staff
1. If a trust company or savings bank assumes the role of custodian for any individual retirement account within the meaning of section 408(a) of the Internal Revenue Code of 1986, 26 U.S.C. § 408(a), from:
(a) An affiliate of the trust company or savings bank, as applicable;
(b) Another trust company or savings bank; or
(c) An affiliate of another trust company or savings bank,
the trust company or savings bank, as applicable, which is assuming the role of custodian shall, in the manner required pursuant to the terms of the documentation of the individual retirement account and any requirements set forth in applicable federal law, provide each holder of the account with notice that the trust company or savings bank, as applicable, is assuming the role of custodian of the account.
2. As used in this section, “savings bank” has the meaning ascribed to it in NRS 673.0317.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 55. Banks and Related Organizations § 669.227. Trust company or savings bank that assumes role of custodian for individual retirement account to provide notice to holder of account - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-55-banks-and-related-organizations/nv-rev-st-669-227/
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.
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