Nevada Revised Statutes 165.138 – Written demand for account by beneficiary: General duties of trustee; power to provide account or information without demand
1. Notwithstanding any provision to the contrary in the trust instrument, but subject to the right of the trustee to petition the court for further instructions pursuant to subsection 2 of NRS 165.148, and subject to the exceptions set forth under paragraph (b) of subsection 1 of NRS 165.1207, a trustee shall provide an account conforming with the requirements of NRS 165.135 to a beneficiary pursuant to a demand by such beneficiary pursuant to NRS 165.141.
Terms Used In Nevada Revised Statutes 165.138
- Account: means a report of the financial condition of the trust estate prepared by a trustee which:
(1) Must include the information set forth in NRS 165. See Nevada Revised Statutes 165.020
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Trust: means :
(1) A trust as defined in NRS 163. See Nevada Revised Statutes 165.020
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes a nontestamentary trustee, a testamentary trustee and a corporate trustee, as well as a natural person. See Nevada Revised Statutes 165.020
2. A trustee, at the expense of the trust, may provide:
(a) An account to one or more beneficiaries at any time, with or without demand; and
(b) More information to beneficiaries, including, without limitation, remote beneficiaries, than is required under the trust instrument or by law.