Nevada § 41B.400 Payor or other third person who pays or transfers forfeited property, interest or benefit

Nevada Statutes

§ 41B.400 — Payor or other third person who pays or transfers forfeited property, interest or benefit

Nevada·Title 3 REMEDIES; SPECIAL ACTIONS AND PROCEEDINGS·Ch. 41B Action· LIABILITY

Except as otherwise provided by specific statute, if a payor or other third person, in good faith, pays or transfers any property, interest or benefit to a beneficiary in accordance with the provisions of a governing instrument, the payor or other third person is not liable to another person who alleges that the payment or transfer to the beneficiary violated the provisions of this chapter unless, before the payment or transfer, the payor or other third person had actual knowledge that the beneficiary was prohibited from acquiring or receiving the property, interest or benefit pursuant to the provisions of this chapter.

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Except as otherwise provided by specific statute, if a payor or other third person, in good faith, pays or transfers any property, interest or benefit to a beneficiary in accordance with the provisions of a governing instrument, the payor or other third person is not liable to another person who alleges that the payment or transfer to the beneficiary violated the provisions of this chapter unless, before the payment or transfer, the payor or other third person had actual knowledge that the beneficiary was prohibited from acquiring or receiving the property, interest or benefit pursuant to the provisions of this chapter.

Nevada § 41B.400 (Payor or other third person who pays or transfers forfeited property, interest or benefit) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.