Nevada § 163.5549 - Limitations on liability of directed fiduciary
Full text of Nevada Nevada Revised Statutes § 163.5549 — Limitations on liability of directed fiduciary, with citation guidance and answers to common questions.
§ 163.5549. Limitations on liability of directed fiduciary
1. A directed fiduciary is not liable, individually or as a fiduciary for any loss
which results from: (a) Complying with a direction of a directing trust adviser, whether the direction
is to act or to not act; or (b) Failing to take any action proposed by a directed fiduciary if the action: (1) Required the approval, consent or authorization of a person who did not provide
the approval, consent or authorization; or (2) Was contingent upon a condition that was not met or satisfied. 2. A directed fiduciary is not liable for any obligation to perform an investment
or suitability review, inquiry or investigation or to make any recommendation or evaluation
with respect to any investment, to the extent that the investment is made by a directing
trust adviser. 3. The provisions of this section do not impose an obligation or liability on a custodian
of a custodial account for providing any authorization.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 163.5549
What does Nevada Revised Statutes § 163.5549 cover?
Section 163.5549 ("Limitations on liability of directed fiduciary") 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 § 163.5549?
A common citation format is "Nevada Revised Statutes § 163.5549" (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 § 163.5549 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.