163.150 - Withdrawal from mingled money of multiple trusts. - Nevada Statutes

163.150  Withdrawal from mingled money of multiple trusts.  Where a person who is a trustee of two or more trusts has mingled the money of two or more trusts in the same aggregate of cash, or in the same bank, credit union or brokerage account or other investment, and a withdrawal is made therefrom by the trustee for his or her own benefit, or for the benefit of a third person not a beneficiary or creditor of one or more of the trusts, or for an unknown purpose, the withdrawal must be charged first to the amount of cash, credit or other property of the trustee in the mingled fund, if any, and after the exhaustion of the trustee’s cash, credit or other property, then to the trusts in proportion to their interests in the cash, credit or other property at the time of the withdrawal.

      [14:136:1941; 1931 NCL § 7718.43]—(NRS A 1999, 1459)