Nevada Revised Statutes 159.117 – Court approval required to make certain investments and loans and to exercise certain options; certain investments authorized without prior approval; investing property of two or more protected persons
1. Upon approval of the court by order, a guardian of the estate may:
Terms Used In Nevada Revised Statutes 159.117
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- county: includes Carson City. See Nevada Revised Statutes 0.033
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
(a) Invest the property of the protected person, make loans and accept security therefor, in the manner and to the extent authorized by the court.
(b) Exercise options of the protected person to purchase or exchange securities or other property.
2. A guardian of the estate may, without securing the prior approval of the court, invest the property of the protected person in the following:
(a) Savings accounts in any bank, credit union, savings and loan association or savings bank in this State, to the extent that the deposits are insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or a private insurer approved pursuant to NRS 672.755.
(b) Interest-bearing obligations of or fully guaranteed by the United States.
(c) Interest-bearing obligations of the United States Postal Service.
(d) Interest-bearing obligations of the Federal National Mortgage Association.
(e) Interest-bearing general obligations of this State.
(f) Interest-bearing general obligations of any county, city or school district of this State.
(g) Money market mutual funds which are invested only in those instruments listed in paragraphs (a) to (f), inclusive.
3. A guardian of the estate for two or more protected persons may invest the property of two or more of the protected persons in property in which each protected person whose property is so invested has an undivided interest. The guardian shall keep a separate record showing the interest of each protected person in the investment and in the income, profits or proceeds therefrom. As used in this subsection, ‘protected person’ includes a protected minor.
4. Upon approval of the court, for a period authorized by the court, a guardian of the estate may maintain the assets of the protected person in the manner in which the protected person had invested the assets before the incapacity of the protected person.
5. A guardian of the estate may access or manage a guardianship account via the Internet on a secured website established by the bank, credit union or broker holding the account.