Nevada § 163.5557 - Powers of investment trust adviser and distribution trust adviser
Full text of Nevada Nevada Revised Statutes § 163.5557 — Powers of investment trust adviser and distribution trust adviser, with citation guidance and answers to common questions.
§ 163.5557. Powers of investment trust adviser and distribution trust adviser
1. An instrument may provide for the appointment of a person to act as an investment
trust adviser or a distribution trust adviser with regard to investment decisions
or discretionary distributions. 2. An investment trust adviser may exercise the powers provided to the investment
trust adviser in the instrument in the best interests of the trust. The powers exercised by an investment trust adviser are at the sole discretion of
the investment trust adviser and are binding on all other persons. The powers granted to an investment trust adviser may include, without limitation,
the power to: (a) Direct the trustee with respect to the retention, purchase, sale or encumbrance
of trust property and the investment and reinvestment of principal and income of the
trust. (b) Vote proxies for securities held in trust. (c) Select one or more investment advisers, managers or counselors, including the
trustee, and delegate to such persons any of the powers of the investment trust adviser. (d) Value non-publicly traded investments held in trust that are subject to the investment
management authority of the investment trust adviser. 3. A distribution trust adviser may exercise the powers provided to the distribution
trust adviser in the instrument in the best interests of the trust. The powers exercised by a distribution trust adviser are at the sole discretion
of the distribution trust adviser and are binding on all other persons. Except as otherwise provided in the instrument, the distribution trust adviser shall
direct the trustee with regard to all discretionary distributions to a beneficiary.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 163.5557
What does Nevada Revised Statutes § 163.5557 cover?
Section 163.5557 ("Powers of investment trust adviser and distribution trust adviser") 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 § 163.5557?
A common citation format is "Nevada Revised Statutes § 163.5557" (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 § 163.5557 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.