Nevada § 165.1214 - Delivery of account; frequency; when account deemed approved and final; payment of cost of preparation

§ 165.1214. Delivery of account; frequency; when account deemed approved and final; payment of cost of preparation

1. Except as may otherwise be required pursuant to the terms of the trust instrument

or by order of the court, the trustee shall deliver a required account within 90 days

after the end of the period of account, which may be extended by consent of the beneficiary,

or by order of the court for good cause shown. 2. The trustee shall be deemed to have provided an account to any person on whom the

trustee delivers a copy of the account as directed by order of the court or, if not

so ordered, pursuant to the following: (a) By mailing a copy of the account by certified, registered or ordinary first-class

mail, or by overnight delivery through a recognized delivery service company, addressed

to the person being served at the post office address or physical address given in

the person's demand for account, if any, or at the person's last place of residence

on file with the trustee, if known, or by personally delivering a copy thereof to

the person; or (b) By electronic mail or through a secure website on the Internet. For purposes of this paragraph, a person shall be deemed to have received a copy

of an account provided by the trustee to the beneficiary by electronic mail or through

a secure website on the Internet if the trustee: (1) Sent the beneficiary an electronic mail in a manner that complies with subsection

1 of NRS 719.320 and the beneficiary received the electronic mail in a manner that complies with subsection

2 of NRS 719.320 ; and (2) Attached the account to the electronic mail as an electronic record or included

in the electronic mail a notice to the beneficiary indicating the availability of

the account on the secure website. 3. Except as otherwise required by the trust instrument, a trustee is not required

to provide an account more than once in any calendar year unless ordered by a court

upon good cause shown. 4. An account must be deemed approved and final as follows: (a) By a beneficiary who received a copy of the account if no written objection is

delivered to the trustee in accordance with subsection 2 within 90 days after the

date on which the trustee provided the account to that beneficiary; or (b) By all beneficiaries who are not required to receive an account, such as nonvested

and contingent beneficiaries, remote beneficiaries, minor beneficiaries, and unborn

or unknown beneficiaries if the account is deemed approved and final by a beneficiary

who has a similar, but preceding interest, in the trust estate, in conformance with NRS 164.038 , or as to any beneficiary who has waived an account pursuant to NRS 165.121 . Notwithstanding the foregoing, if an account is submitted to the court for approval

under a petition pursuant to chapter 164 of NRS, the account must be deemed final

and approved upon by order of the court, subject only to the right of an interested

person to appeal. 5. Except as otherwise ordered by the court, the cost of preparing an account must

be paid from the trust estate, and allocated to income and principal as provided in

the trust instrument, and if the trust instrument is otherwise silent, in accordance

with NRS 164.780 to 164.925 , inclusive. 6. As used in this section: (a) “ Electronic mail ” has the meaning ascribed to it in NRS 41.715 . (b) “ Electronic record ” has the meaning ascribed to it in NRS 132.117 .