Nevada § 598.865 Administration of trust accounts; audits

Nevada Statutes

§ 598.865 — Administration of trust accounts; audits

Nevada § 598.865

Title 52TRADE REGULATIONS AND PRACTICES

Ch. 598Deceptive

Organizations for Buying Goods or Services at Discount

This text of Nevada § 598.865 (Administration of trust accounts; audits) 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. § 598.865 (2026).

Text

1.Except as otherwise provided in subsection 3 of NRS 598.855 , the trust accounts required by NRS 598.855 and 598.860 must be administered by an independent trustee approved by the Commissioner. All fees charged by the trustee to administer a trust account must be paid by the organization.

2.The trustee shall withdraw money from the trust account for payments on goods or services only upon written proof from the source of the goods or services that the items have been shipped or delivered to the buyer. The Commissioner may audit the trustee as necessary to ensure compliance with NRS 598.840 to 598.930 , inclusive.

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1. Except as otherwise provided in subsection 3 of NRS 598.855 , the trust accounts required by NRS 598.855 and 598.860 must be administered by an independent trustee approved by the Commissioner. All fees charged by the trustee to administer a trust account must be paid by the organization.
2. The trustee shall withdraw money from the trust account for payments on goods or services only upon written proof from the source of the goods or services that the items have been shipped or delivered to the buyer. The Commissioner may audit the trustee as necessary to ensure compliance with NRS 598.840 to 598.930 , inclusive.

Legislative History

(Added to NRS by 1985, 962 ; A 2005, 1375 ; R temp. 2009, 2732 ; R temp. 2011, 2652 ; R temp. 2013, 1054 ; R temp. 2015, 3653 ; R temp. 2017, 2254 ; R temp. 2019, 2501 )