163.5533 - “Custodial account” defined. - Nevada Statutes

163.5533  “Custodial account” defined.  “Custodial account” means an account:

      1.  Established by a person with a bank, as defined in 26 U.S.C. § 408(n), or with a person approved by the Internal Revenue Service as satisfying the requirements to be a nonbank trustee or nonbank passive trustee pursuant to regulations established by the United States Treasury pursuant to 26 U.S.C. § 408; and

      2.  Governed by an instrument concerning the establishment or maintenance of an individual retirement account, qualified retirement plan, an Archer medical savings account, health savings account, a Coverdell education savings account or any similar retirement or savings account permitted under the Internal Revenue Code of 1986.

      (Added to NRS by 2009, 787)