Nevada § 163.120 - Claims based on certain contracts or obligations: Assertion against trust; entry of judgment; notice; intervention; personal liability of trustee; significance of use of certain terms

§ 163.120. Claims based on certain contracts or obligations: Assertion against trust; entry of judgment; notice; intervention; personal liability of trustee; significance of use of certain terms

1. A claim based on a contract entered into by a trustee in the capacity of representative,

or on an obligation arising from ownership or control of trust property, may be asserted

against the trust by proceeding against the trustee in the capacity of representative,

whether or not the trustee is personally liable on the claim. 2. A judgment may not be entered in favor of the plaintiff in the action unless the

plaintiff proves that within 30 days after filing the action, or within 30 days after

the filing of a report of an early case conference if one is required, whichever is

longer, or within such other time as the court may fix, and more than 30 days before

obtaining the judgment, the plaintiff notified each of the beneficiaries known to

the trustee who then had a present interest, or in the case of a charitable trust,

the Attorney General and any corporation which is a beneficiary or agency in the performance

of the charitable trust, of the existence and nature of the action. The notice must be given by mailing copies to the beneficiaries at their last known

addresses. The trustee shall furnish the plaintiff a list of the beneficiaries to be notified,

and their addresses, within 10 days after written demand therefor, and notification

of the persons on the list constitutes compliance with the duty placed on the plaintiff

by this section. Any beneficiary, or in the case of charitable trusts the Attorney General and any

corporation which is a beneficiary or agency in the performance of the charitable

trust, may intervene in the action and contest the right of the plaintiff to recover. 3. Except as otherwise provided in this chapter or in the contract, a trustee is not

personally liable on a contract properly entered into in the capacity of representative

in the course of administration of the trust unless the trustee fails to reveal the

representative capacity or identify the trust in the contract. The addition of the word “trustee” or the words “as trustee” after the signature of

a trustee to a contract are prima facie evidence of an intent to exclude the trustee

from personal liability.