1. A trustee may delegate functions of investment and management that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill and caution in: (a) Selecting an agent; (b) Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and (c) Periodically reviewing the agent’s actions in order to verify the agent’s performance and compliance with the terms of the delegation. 2. In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation. 3. A trustee who complies with the requirements of subsection 1 is not liable to the beneficiaries or to the trust for the decisions or actions of the agent to whom the function was delegated. 4. By accepting the delegation of a function from the trustee of a trust that is subject to the law of this state, an agent submits to the jurisdiction of the courts of this state. (Added to NRS by 2003, 1968)
Nevada Legal Code