Title 164 · NRS Chapter 164

Failure to demand certification not improper act; liability.

Citation: NRS 164.440

Section: 164.164.440

NRS

164.440

Failure to demand certification not improper act; liability.

A person’s failure to demand a certification of trust may not be considered to be an improper act by the person and no inference as to whether the person has acted in good faith may be drawn from the failure to demand a certification of trust. This section creates no implication that a person is liable for acting in reliance upon a certification of trust under circumstances where the requirements of NRS 164.400 to 164.430 , inclusive, are not satisfied.

(Added to NRS by 1995, 212 )

PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS (UNIFORM ACT)