Nevada Revised Statutes 353.2975 – ‘Agency fund’ defined
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‘Agency fund’ means a fiduciary fund which is solely custodial in nature, in which assets equal liabilities, and which does not involve measurement of the results of operations.
Terms Used In Nevada Revised Statutes 353.2975
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fiduciary: A trustee, executor, or administrator.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.