Nevada § 100.085 - Deposits in names of two or more persons; fact that account held in joint tenancy does not preclude person named on account from committing or being prosecuted for exploitation

§ 100.085. Deposits in names of two or more persons; fact that account held in joint tenancy does not preclude person named on account from committing or being prosecuted for exploitation

1. When a deposit has been made in the name of the depositor and one or more other

persons, and in a form intended to be paid or delivered to any one of them, or the

survivor or survivors of them, the deposit is the property of the persons as joint

tenants. If an account is intended to be held in joint tenancy, the account or proceeds from

the account are owned by the persons named, and may be paid or delivered to any of

them during the lifetime of all, or to the survivor or survivors of them after the

death of less than all of the tenants, or the last of them to survive, and payment

or delivery is a valid and sufficient release and discharge of the depository. 2. The making of a deposit in the form of a joint tenancy vests title to the deposit

in the survivor or survivors. 3. When a deposit has been made in the name of the depositor and one or more other

persons, and in a form to be paid or delivered to the survivor or survivors of them,

but one or more of the other persons is not authorized to withdraw from the deposit

during the life of the depositor or depositors, the person or persons so restricted

have no present interest in the deposit, but upon the death of the last depositor

entitled to withdraw, the deposit is presumed to belong to the survivor or survivors. Unless written notice of a claim against the deposit has been given by a survivor

or a third person before payment or delivery, payment or delivery to a survivor is

a valid and sufficient release and discharge of the depository. 4. For the purposes of this section, unless a depositor specifically provides otherwise,

the use by the depositor of any of the following words or terms in designating the

ownership of an account indicates the intent of the depositor that the account be

held in joint tenancy: (a) Joint; (b) Joint account; (c) Jointly held; (d) Joint tenants; (e) Joint tenancy; or (f) Joint tenants with right of survivorship. 5. As set forth in NRS 200.50957 , the mere fact that an account of an older person or a vulnerable person is held

in joint tenancy pursuant to this section does not, in and of itself, convey to all

persons named on the account legal ownership of the account and the deposits and proceeds

of the account in a manner that would preclude such a person from committing or being

prosecuted for exploitation involving the control or conversion of any deposits or

proceeds of the account if the facts and circumstances demonstrate that exploitation

has occurred, regardless of whether the intent to commit exploitation arose before,

during or after the creation of the account. 6. As used in this section: (a) “ Exploitation ” has the meaning ascribed to it in NRS 200.5092 . (b) “ Older person ” has the meaning ascribed to it in NRS 200.5092 . (c) “ Vulnerable person ” has the meaning ascribed to in NRS 200.5092 .