Nevada § 88A.360 - Duties and liabilities of trustee
Full text of Nevada Nevada Revised Statutes § 88A.360 — Duties and liabilities of trustee, with citation guidance and answers to common questions.
§ 88A.360. Duties and liabilities of trustee
1. Except as otherwise provided in the governing instrument but subject to the provisions
of subsection 3, a trustee shall act in good faith and in a manner the trustee reasonably
believes to be in the best interest of the business trust. 2. If there is at least one trustee of a series trust that, in discharging its duties,
is obligated to consider the interests of the trust and all series thereof, the governing
instrument may provide that one or more other trustees, in discharging their duties,
may consider only the interest of the trust or one or more series thereof. 3. The governing instrument may expand, restrict or eliminate the duties of the trustee
of a business trust, except that a governing instrument may not eliminate the implied
contractual covenant of good faith and fair dealing. 4. If the trustee acts pursuant to a governing instrument, the trustee is not liable
to the business trust or to a beneficial owner for the trustee's reliance in good
faith on the provisions of the governing instrument.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 88A.360
What does Nevada Revised Statutes § 88A.360 cover?
Section 88A.360 ("Duties and liabilities of trustee") 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 § 88A.360?
A common citation format is "Nevada Revised Statutes § 88A.360" (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 § 88A.360 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.