Nevada Revised Statutes 669A.050 – ‘Designated relative’ defined
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‘Designated relative’ means the common ancestor of the family, who may be either a living or deceased person. With regard to:
Terms Used In Nevada Revised Statutes 669A.050
- 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
1. A licensed family trust company or a family trust company applying to be licensed pursuant to this chapter, the designated relative is the person who is designated in the application for a license or in the annual renewal of a license.
2. A family trust company other than a family trust company described in subsection 1, the designated relative is any person designated by the family trust company in a letter to the Commissioner sent by certified mail, return receipt requested.