Nevada § 163.130 - Exoneration or reimbursement of trustee for tort

§ 163.130. Exoneration or reimbursement of trustee for tort

1. A trustee who has incurred personal liability for a tort committed in the administration

of the trust is entitled to exoneration therefor from the trust property if the trustee

has not discharged the claim, or to be reimbursed therefor out of trust funds if the

trustee has paid the claim, if: (a) The tort was a common incident of the kind of business activity in which the trustee

was properly engaged for the trust; (b) Although the tort was not a common incident of such activity, neither the trustee

nor any officer or employee of the trustee was guilty of personal fault in incurring

the liability; or (c) The trust instrument authorizes the exoneration or reimbursement of a trustee

and the actions of the trustee did not constitute willful misconduct or gross negligence. 2. If a trustee commits a tort which increases the value of the trust property, the

trustee shall be entitled to exoneration or reimbursement with respect thereto to

the extent of such increase in value, even though the trustee would not otherwise

be entitled to exoneration or reimbursement. 3. Nothing in this section shall be construed to change the existing law with regard

to the liability of trustees of charitable trusts for torts of themselves or their

employees.