Nevada § 164.940 - Nonjudicial settlement agreements: Enforceability; when void; matters that may be resolved
Full text of Nevada Nevada Revised Statutes § 164.940 — Nonjudicial settlement agreements: Enforceability; when void; matters that may be resolved, with citation guidance and answers to common questions.
§ 164.940. Nonjudicial settlement agreements: Enforceability; when void; matters that may be resolved
1. Except as otherwise provided in this section, a settlement agreement entered into
by all indispensable parties, as described in subsection 1 of NRS 164.942 is enforceable with respect to the administration of a trust without approval by
the court, as defined in NRS 132.116 . 2. A nonjudicial settlement agreement is void to the extent it violates a material
purpose of the trust and to the extent it includes terms and conditions that could
not be properly approved by the court, as defined in NRS 132.116 , under the law governing the trust instrument. 3. Matters that may be resolved by a nonjudicial settlement agreement include, without
limitation: (a) The investment or use of trust assets; (b) The lending or borrowing of money; (c) The addition, deletion or modification of a term or condition of the trust; (d) The interpretation or construction of a term of the trust; (e) The designation or transfer of the principal place of administration of the trust; (f) The approval of a trustee's report or accounting; (g) The choice of law governing the construction of the trust instrument or administration
of the trust, or both; (h) Direction to a trustee to perform or refrain from performing a particular act; (i) The granting of any necessary or desirable power to a trustee; (j) The resignation or appointment of a trustee and the determination of a trustee's
compensation; (k) The merger or division of trusts; (l) The granting of approval or authority, for a trustee to make charitable gifts
from a noncharitable trust; (m) The transfer of a trust's principal place of administration; (n) Negating the liability of a trustee for an action relating to the trust and providing
indemnification therefor; and (o) The termination of the trust.
Frequently Asked Questions About Nevada § 164.940
What does Nevada Revised Statutes § 164.940 cover?
Section 164.940 ("Nonjudicial settlement agreements: Enforceability; when void; matters that may be resolved") 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 § 164.940?
A common citation format is "Nevada Revised Statutes § 164.940" (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 § 164.940 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.