Nevada Revised Statutes 162.300 – Establishment of trust or formation of entity by fiduciary; transfer, assignment or conveyance of estate or trust property to trust or entity; ownership or control of trust or entity by trust
1. A fiduciary may establish a trust or form a corporation, limited-liability company or other entity, and transfer, assign and convey to the trust, corporation, limited-liability company or entity all or any part of an estate or of any trust property in exchange for the stock, securities or obligations of the trust, corporation, limited-liability company or entity, and continue to hold the stock and securities and obligations.
Terms Used In Nevada Revised Statutes 162.300
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiduciary: A trustee, executor, or administrator.
- Trustee: A person or institution holding and administering property in trust.
2. A trust established or a corporation, limited-liability company or other entity incorporated, organized or registered under the laws of this State that acts as a fiduciary or trustee of an estate or trust administered under the laws of this State may be owned or controlled by the trust if the trust instrument authorizes the trust to own an affiliate.
3. As used in this section, ‘affiliate’ has the meaning ascribed to it in NRS 163.020.