{"data":{"id":"us-nv/nrs-669.049","jurisdiction":"us-nv","citation":"NRS 669.049","heading":"“Noncustodial trust company” defined.","body":"1. “Noncustodial trust company” means a grandfathered trust company that:\n(a) Does not manage, or advise regarding, in the aggregate, more than $100,000,000 worth of a client’s assets;\n(b) Does not have custody or control of clients’ assets that exceed 20 percent of the total assets that the trust company manages for all clients; and\n(c) To the extent that the trust company has custody or control of a client’s assets, invests such assets pursuant to:\n(1) Direction by the client; or\n(2) The prudent investor standards of NRS 164.700 to 164.775, inclusive.\n2. For the purposes of this section:\n(a) “Advise” means to provide investment advice.\n(b) “Control” means the ability to invest or transfer cash or any other asset in a fiduciary or client account to any person other than:\n(1) In the case of an account for which the trust company acts as fiduciary, the settlor or beneficiary; and\n(2) In the case of any other account of a client, the owner of the account.\n(c) “Manage” means the exercise of discretion regarding investments, whether or not that discretion is delegated to another person.","path":["TITLE 55 — BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL INSTITUTIONS","CHAPTER 669 - TRUST COMPANIES","GENERAL PROVISIONS"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-669.html#NRS669Sec049","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:45Z","sha256":"db67c3f61b087ca020e7dafc84b36d195472ab6dd4efd388b2308302b6d55473","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-669.047","next":"us-nv/nrs-669.050"},"notice":"GroundRules: Original legal text. Not legal advice."}