Duty to comply with prudent investor rule; circumstances under which trustee is immune from liability.

NRS

164.740

Duty to comply with prudent investor rule; circumstances under which trustee is immune from liability.

Except as otherwise provided in chapter 669A of NRS, a trustee who invests and manages trust property owes a duty to the beneficiaries of the trust to comply with the prudent investor rule as set forth in NRS 164.700 to 164.775 , inclusive, but a trustee is not liable to a beneficiary to the extent that the trustee:

1. Acted in reasonable reliance on the terms of the trust or a court order; and

2. Determined in good faith to not diversify the investments of a trust pursuant to NRS 164.750 .

(Added to NRS by 2003, 1967 ; A 2011, 1817 ; 2015, 3555 )