Except as otherwise provided in a trust instrument, a person holding a power of appointment pursuant to a nontestamentary trust does not owe a fiduciary duty to any person and is not liable to any person with respect to the exercise or nonexercise of the power of appointment.
NRS 165.149
Limitations on duties and liability of person with power of appointment
Known as the Uniform Trustees’ Accounting Act
The act spans §§ 165–165 (25 sections).
(Added to NRS by 2011, 1477)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.