NRS165.137. Duties of trustee with regard to providing account; circumstances when account deemed approved by beneficiary.

      1.  The following provisions apply to the extent that the trust instrument does not expressly provide otherwise:

      (a) The trustee shall provide an account to each current beneficiary and to each remainder beneficiary upon request but is not required to provide an account to a remote beneficiary;

      (b) A trustee is not required to provide an account more than once in any calendar year unless ordered by a court to do so upon good cause shown;

      (c) Each account provided to a beneficiary must comply with the provisions of subsection 3 or 4 of NRS 165.135;

      (d) In addition to other methods of providing an account to a beneficiary, a trustee may provide an account to a beneficiary by electronic mail or through a secure website on the Internet;

      (e) While a trust is revocable, the trustee is not required to provide an account to any person other than a person having the right of revocation except that a trustee of such a trust shall provide an account if:

             (1) A court-appointed guardian of the trust estate requests an account on behalf of the settlor; or

             (2) The court, in considering a petition filed under NRS 164.015, determines that the settlor is incompetent or is susceptible to undue influence and directs the trustee to provide an account, specifying the nature and extent of the account to be provided and the person or persons who are entitled to receive the account;

      (f) While an irrevocable trust in its entirety is subject to a broad power of appointment, the trustee is not required to provide an account for that trust to any person other than the power holder;

      (g) The cost of an account must be charged as provided in the Uniform Principal and Income Act (1997) as set forth in chapter 164 of NRS;

      (h) An account shall be deemed approved by a beneficiary who received a copy of the account if no written objection thereto is given to the trustee within 120 days after the date on which the trustee provided the account to that beneficiary;

      (i) An account shall be deemed approved by a minor, unborn or unknown beneficiary if it is deemed approved as to an adult beneficiary who has a similar interest;

      (j) A trustee is not required to provide to a beneficiary information that does not affect the beneficiary’s interest in the trust, and an adult beneficiary may, by a written declaration that is signed by that beneficiary, waive the right to receive any information otherwise required to be provided pursuant to the provisions of subsection 3 or 4 of NRS 165.135; and

      (k) For the purposes of paragraph (h), a beneficiary 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.

      2.  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.

      (Added to NRS by 2011, 1472)