Nevada § 164.080 - Establishment; investments; management
Full text of Nevada Nevada Revised Statutes § 164.080 — Establishment; investments; management, with citation guidance and answers to common questions.
§ 164.080. Establishment; investments; management
1. Any bank or trust company qualified to act as fiduciary in this State, or in any
other state if affiliated with a bank or trust company qualified to act as fiduciary
in this State, may: (a) Establish common trust funds to furnish investments to itself and its affiliated
bank or trust company as fiduciary or to itself, its affiliated bank or trust company
and others, as cofiduciaries; and (b) As fiduciary or cofiduciary, invest money which it lawfully holds for investment
in interests in those common trust funds, if the investment is not prohibited by the
instrument, judgment, decree or order creating the fiduciary relationship, and if,
in the case of cofiduciaries, the bank or trust company procures the consent of its
cofiduciaries to the investment. 2. Any bank or trust company, qualified to act as fiduciary in the state in which
it was chartered, which is not a member of the Federal Reserve System shall, in the
operation of the common trust fund, comply with the regulations adopted by the supervisor
of banking in the state in which it was chartered and with the regulations adopted
by the commissioner of financial institutions in this State. 3. The Commissioner of Financial Institutions of the Department of Business and Industry
may adopt regulations to carry out the provisions of NRS 164.070 to 164.100 , inclusive. 4. As used in this section, “affiliated” means two or more banks or trust companies: (a) In which at least 25 percent of their voting shares, excluding shares owned by
the United States or by any company wholly owned by the United States, are directly
or indirectly owned or controlled by a holding company; or (b) In which the election of a majority of the directors is controlled in any manner
by a holding company.
Frequently Asked Questions About Nevada § 164.080
What does Nevada Revised Statutes § 164.080 cover?
Section 164.080 ("Establishment; investments; management") 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 § 164.080?
A common citation format is "Nevada Revised Statutes § 164.080" (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 § 164.080 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.