Nev. Rev. Stat. ch. 669A – Family Trust Companies | Midpage

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Nevada Revised Statutes

Chapter 669A

Nev. Rev. Stat. ch. 669A

Family Trust Companies

669A.010Declaration of legislative intent 669A.020Definitions 669A.030“Affiliate” defined 669A.035“Beneficiary” defined 669A.040“Confidential information” defined 669A.050“Designated relative” defined 669A.060“Family affiliate” defined 669A.070“Family member” defined 669A.080“Family trust company” defined 669A.082“Fiduciary” defined 669A.085“Interested person” defined 669A.090“Licensed family trust company” defined 669A.094Liberal construction of chapter 669A.095Applicability of chapter 669A.097Applicability of other provisions of NRS 669A.100Family trust company not required to be licensed as trust company 669A.110Family trust company not required to be licensed but may apply for license 669A.120Exchange of license as trust company for license as family trust company 669A.130Licensed family trust company has same rights, privileges and exemptions as trust company 669A.133Standards for administration and management of trust 669A.135Limitations on liability 669A.140Requirements for licensed family trust company: Resident officer; physical office; registered agent; licenses, registrations and permits; bank account 669A.150Unlawful to use or advertise word “trust” as part of name; exceptions 669A.160Minimum stockholders’ equity required for organization and operation 669A.170Certain organizational structure required for domestic family trust company; authority to do business in this State required for foreign family trust company 669A.180Certain provisions required in articles of incorporation, certificate of incorporation or articles of organization of domestic family trust company; limitation on use of certain names by foreign trust company 669A.190Application for license: Contents; fees; regulations; withdrawal of application 669A.200Investigation of applicant; rights of applicant upon denial of license; entry of final order; judicial review 669A.210Payment of license fees; deposit in State Treasury 669A.220Powers of family trust companies; banking business prohibited 669A.222Appointment of guardian for certain persons who are not residents of this State 669A.223Designation of person to represent and bind beneficiary and receive information regarding trust; exceptions; limitation on liability 669A.225Authorized actions and transactions; conflicts of interest 669A.230Investments 669A.233Nonjudicial settlement agreements: Authority to enter; scope; judicial approval 669A.235Nonjudicial settlement agreements: Notice to necessary parties; objections; actions alleging fraud, bad faith or willful violation of terms of trust; limitation of liability 669A.237Nonjudicial settlement agreements: Refraining from taking authorized action 669A.240Discontinuing business 669A.250Fidelity bonds; insurance 669A.255Annual and final reports; allocation to income 669A.256Sealing of trust documents 669A.257Privileged communications; applicability of attorney-client relationship 669A.260Fees for examination 669A.270Regulations of Commissioner; determination of organization as family trust company 669A.280Authority of Commissioner to revoke license 669A.290Failure to submit required report; fees; regulations 669A.300Willful neglect to perform duties imposed by law or failure to conform to material lawful requirement made by Commissioner; removal 669A.310Confidentiality of certain records and documents; authority of Commissioner to use discretion in determining disclosure 669A.320Administrative fines