Nevada § 116.3119 - Association as trustee
Full text of Nevada Nevada Revised Statutes § 116.3119 — Association as trustee, with citation guidance and answers to common questions.
§ 116.3119. Association as trustee
With respect to a third person dealing with the association in the association's capacity
as a trustee, the existence of trust powers and their proper exercise by the association
may be assumed without inquiry. A third person is not bound to inquire whether the association has power to act as
trustee or is properly exercising trust powers. A third person, without actual knowledge that the association is exceeding or improperly
exercising its powers, is fully protected in dealing with the association as if it
possessed and properly exercised the powers it purports to exercise. A third person is not bound to assure the proper application of trust assets paid
or delivered to the association in its capacity as trustee.
Frequently Asked Questions About Nevada § 116.3119
What does Nevada Revised Statutes § 116.3119 cover?
Section 116.3119 ("Association as trustee") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 116.3119?
A common citation format is "Nevada Revised Statutes § 116.3119" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 116.3119 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.