Nevada Statutes

§ 164.740 — Duty to comply with prudent investor rule; circumstances under which trustee is immune from liability

Nevada § 164.740

JurisdictionNevada

Title 13GUARDIANSHIPS; CONSERVATORSHIPS; TRUSTS

Ch. 164Administration

Prudent Investor (Uniform Act)

This text of Nevada § 164.740 (Duty to comply with prudent investor rule; circumstances under which trustee is immune from liability) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 164.740 (2026).

Text

Except as otherwise provided in chapter 669A of NRS, a trustee who invests and manages trust property owes a duty to the beneficiaries of the trust to comply with the prudent investor rule as set forth in NRS 164.700 to 164.775, inclusive, but a trustee is not liable to a beneficiary to the extent that the trustee:

1.Acted in reasonable reliance on the terms of the trust or a court order; and

2.Determined in good faith to not diversify the investments of a trust pursuant to NRS 164.750 .

Free access — add to your briefcase to read the full text and ask questions with AI

Except as otherwise provided in chapter 669A of NRS, a trustee who invests and manages trust property owes a duty to the beneficiaries of the trust to comply with the prudent investor rule as set forth in NRS 164.700 to 164.775, inclusive, but a trustee is not liable to a beneficiary to the extent that the trustee:
1. Acted in reasonable reliance on the terms of the trust or a court order; and
2. Determined in good faith to not diversify the investments of a trust pursuant to NRS 164.750 .

Related

Nevada § 164.700

Nevada § 164.750

Legislative History

(Added to NRS by 2003, 1967 ; A 2011, 1817 ; 2015, 3555 )

Nearby Sections

15

§ 164.005

Applicability of provisions of chapters 132, 153 and 155 of NRS regulating matters of estates

§ 164.010

Petition for assumption of jurisdiction; circumstances in which jurisdiction is proper in this State; determination of venue; powers of court; petition for removal of trust from jurisdiction of court

§ 164.015

Petition concerning internal affairs of nontestamentary trust; jurisdiction of court; procedure for contests of certain trusts; final order; appeal

§ 164.021

Notice by trustee to beneficiary concerning change of revocable trust to irrevocable trust; contents of notice; limitation of action to contest validity of trust; exceptions

§ 164.025

Notice of death of settlor; filing of claim against settlor, trust estate or settlor and trust estate; effect of failure to file claim; notice to Department of Health and Human Services; notice of rejected claim; effect of failure to bring suit after notice of rejected claim

§ 164.030

Petition for instructions: Notice; hearing; final order; appeal

§ 164.033

Petition concerning conveyance, transfer or delivery of property of trust; notice of hearing; order; appeal

§ 164.037

Petitions: Notice and hearing

§ 164.038

Circumstances under which certain persons are authorized to be represented by persons with similar interests in proceedings concerning administration of trust; binding results; representation by powerholder for permissible appointee or taker in default of appointment; representation by parent or guardian of beneficiary

§ 164.040

Power or jurisdiction of court not abridged; court may take action necessary or proper to dispose of matter presented by petition

§ 164.041

Confidential information: Redaction and sealing of information without prior court order in certain circumstances

§ 164.043

Expenses and compensation of trustees

§ 164.045

Circumstances under which laws of this State govern trusts; change of situs to this State

§ 164.067

Power to sell, convey or encumber

§ 164.070

View on official source ↗

Cite This Page — Counsel Stack

Bluebook (online)

Nevada § 164.740, Counsel Stack Legal Research, https://law.counselstack.com/statute/nv/164.740.