Nevada § 163.040 - Corporate trustee may deposit with self certain money held in trust
Full text of Nevada Nevada Revised Statutes § 163.040 — Corporate trustee may deposit with self certain money held in trust, with citation guidance and answers to common questions.
§ 163.040. Corporate trustee may deposit with self certain money held in trust
1. A corporate trustee which is subject to regulation and supervision by state or
federal authorities may deposit with itself trust funds which are being held necessarily
pending investment, distribution, or the payment of debts, provided it pays into the
trust for the deposit such interest as it is required by statute to pay on uninvested
trust funds, or, if there is no statute, the same rate of interest it pays upon similar
nontrust deposits, and maintains in its trust department as security for those deposits
a separate fund consisting of securities legal for trust investments and at all times
equal in total market value to the amount of the deposits. No security may be required to the extent that the deposit is insured or given a preference
by any state or federal law. 2. The separate fund of securities must be marked as such. Withdrawals from or additions to it may be made from time to time, as long as the
required value is maintained. The income of the securities belongs to the corporate trustee. In all statements of its financial condition published, or delivered to the Commissioner
of Financial Institutions, the corporate trustee shall show as separate items the
amount of trust funds which it has deposited with itself and the amount of securities
which it holds as security for the payment of those deposits.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 163.040
What does Nevada Revised Statutes § 163.040 cover?
Section 163.040 ("Corporate trustee may deposit with self certain money held in trust") 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 § 163.040?
A common citation format is "Nevada Revised Statutes § 163.040" (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 § 163.040 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.