Nevada Revised Statutes 167.055 – Delivery, payment or expenditure of custodial property for benefit of minor
1. A custodian may deliver or pay to the minor or expend for the minor’s benefit so much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to:
Terms Used In Nevada Revised Statutes 167.055
- Court: means the district court. See Nevada Revised Statutes 167.020
- Custodial property: means :
(a) Any interest in property transferred to a custodian in a manner prescribed in this chapter; and
(b) The income from and the proceeds of that interest in property. See Nevada Revised Statutes 167.020
- Custodian: means a person so designated in a manner prescribed in this chapter. See Nevada Revised Statutes 167.020
- Minor: means a person who has not attained the age of 18 years. See Nevada Revised Statutes 167.020
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means any natural person, corporation, organization or other legal entity. See Nevada Revised Statutes 167.020
(a) The duty or ability of the custodian personally or of any other person to support the minor; or
(b) Any other income or property of the minor which may be applicable or available for that purpose.
2. On petition of an interested person, or the minor if the minor has attained the age of 14 years, the court may order the custodian to deliver or pay to the minor or expend for the benefit of the minor so much of the custodial property as the court considers advisable for the use and benefit of the minor.
3. A delivery, payment or expenditure under this section is in addition to, not in substitution for, and does not affect any obligation of a person to support the minor.