163.275 - Investments; reinvestments; delegation of authority to invest. - Nevada Statutes

163.275  Investments; reinvestments; delegation of authority to invest.

      1.  A fiduciary may invest and reinvest, as the fiduciary deems advisable:

      (a) In stocks, common or preferred, bonds, debentures, notes, mortgages or other securities in or outside the United States;

      (b) In insurance contracts on the life of any beneficiary or of any person in whom a beneficiary has an insurable interest, or in annuity contracts for any beneficiary;

      (c) In any real or personal property;

      (d) In investment trusts;

      (e) In participations in common trust funds;

      (f) In securities of any corporation, trust, association or fund:

             (1) Which is engaged, or proposes to engage, in the business of investing, reinvesting, owning, holding or trading in securities;

             (2) Whose assets are invested principally in cash or in securities of other issuers; and

             (3) Which is registered as an investment company with the Securities and Exchange Commission; and

      (g) Generally in such property as the fiduciary deems advisable, even though the investment is not of the character approved by applicable law but for this section.

      2.  A fiduciary may delegate the authority to invest, but the fiduciary is not thereby relieved of any liability that exists in the absence of delegation.

      (Added to NRS by 1969, 450; A 1985, 17; 1999, 2372)