Nevada § 164.942 - Nonjudicial settlement agreements: When effective; providing objections; notice of proposed action; failure to object constitutes acceptance; petitioning court for approval
Full text of Nevada Nevada Revised Statutes § 164.942 — Nonjudicial settlement agreements: When effective; providing objections; notice of proposed action; failure to object constitutes acceptance; petitioning court for approval, with citation guidance and answers to common questions.
§ 164.942. Nonjudicial settlement agreements: When effective; providing objections; notice of proposed action; failure to object constitutes acceptance; petitioning court for approval
1. Except as otherwise provided in this section, a nonjudicial settlement agreement
is effective when the agreement has been signed by all indispensable parties. A party who is represented by another person pursuant to NRS 164.038 shall be deemed to have signed an agreement when the person who represents that party
has signed the agreement. 2. Except as otherwise provided in this section, if an indispensable party neither
signs the agreement nor provides the trustee with a written objection, the trustee
may follow the procedure provided in NRS 164.725 by giving a notice of proposed action to all indispensable parties who have not signed
the settlement agreement, where the proposed action is to accept and comply with the
nonjudicial settlement agreement. 3. Failure to object to the notice of proposed action constitutes acceptance of the
settlement agreement. If the trustee is personally aware that an indispensable party, or a person representing
that indispensable party under NRS 164.038 , has not received the notice of proposed action, the trustee may not proceed to honor
the agreement pursuant to subsection 6 of NRS 164.725 , but may proceed under subsection 7 of NRS 164.725 as if that indispensable party had objected. Once all indispensable parties have agreed to a settlement agreement as provided
in subsection 1 or 2, it is irrevocable. 4. Any indispensable party may petition the court for an order approving a nonjudicial
settlement agreement under the procedure set forth in NRS 164.015 . In order to approve a nonjudicial settlement, the court must find that the agreement
complies with the requirements of this section and NRS 164.940 . 5. For the purposes of this section, “ indispensable parties ” refers to all interested persons, as defined in NRS 132.185 , whose consent would be required in order to achieve a binding settlement were the
settlement to be approved by the court.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 164.942
What does Nevada Revised Statutes § 164.942 cover?
Section 164.942 ("Nonjudicial settlement agreements: When effective; providing objections; notice of proposed action; failure to object constitutes acceptance; petitioning court for approval") 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 § 164.942?
A common citation format is "Nevada Revised Statutes § 164.942" (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 § 164.942 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.