88A.360 - Duties and liabilities of trustee. - Nevada Statutes

88A.360  Duties and liabilities of trustee.  To the extent that, at law or in equity, a trustee has duties, fiduciary or otherwise, and liabilities relating thereto to a business trust or beneficial owner:

      1.  If the trustee acts pursuant to a governing instrument, the trustee is not liable to the business trust or to a beneficial owner for the trustee’s reliance in good faith on the provisions of the governing instrument; and

      2.  The duties and liabilities of the trustee may be expanded or restricted by provisions in the governing instrument.

      (Added to NRS by 1999, 1571)