143.170 Purchase of property of estate by personal representative. Unless approved in advance by a court after application, notice and a hearing on the matter, a personal representative shall not directly or indirectly purchase any property of the estate represented by the personal representative.
[190:107:1941; 1931 NCL § 9882.190]—(NRS A 1999, 2295; 2001, 2345)
NRS 143.175 Power to make certain investments.
1. A personal representative may, with court approval:
(a) Invest the property of the estate, make loans and accept security therefor, in the manner and to the extent authorized by the court; and
(b) Exercise options of the estate to purchase or exchange securities or other property.
2. A personal representative may, without prior approval of the court, invest the property of the estate in:
(a) Savings accounts in a bank, credit union or savings and loan association in this State, to the extent that the deposit is insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or a private insurer approved pursuant to NRS 678.755;
(b) Interest-bearing obligations of, or fully guaranteed by, the United States;
(c) Interest-bearing obligations of the United States Postal Service or the Federal National Mortgage Association;
(d) Interest-bearing obligations of this State or of a county, city or school district of this State;
(e) Money-market mutual funds that are invested only in obligations listed in paragraphs (a) to (d), inclusive; or
(f) Any other investment authorized by the will of the decedent.
(Added to NRS by 1975, 1766; A 1999, 1458, 2295; 2001, 91)
143.170 Purchase of property of estate by personal representative. Unless approved in advance by a court after application, notice and a hearing on the matter, a personal representative shall not directly or indirectly purchase any property of the estate represented by the personal representative.
[190:107:1941; 1931 NCL § 9882.190]—(NRS A 1999, 2295; 2001, 2345)
NRS 143.175 Power to make certain investments.
1. A personal representative may, with court approval:
(a) Invest the property of the estate, make loans and accept security therefor, in the manner and to the extent authorized by the court; and
(b) Exercise options of the estate to purchase or exchange securities or other property.
2. A personal representative may, without prior approval of the court, invest the property of the estate in:
(a) Savings accounts in a bank, credit union or savings and loan association in this State, to the extent that the deposit is insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or a private insurer approved pursuant to NRS 678.755;
(b) Interest-bearing obligations of, or fully guaranteed by, the United States;
(c) Interest-bearing obligations of the United States Postal Service or the Federal National Mortgage Association;
(d) Interest-bearing obligations of this State or of a county, city or school district of this State;
(e) Money-market mutual funds that are invested only in obligations listed in paragraphs (a) to (d), inclusive; or
(f) Any other investment authorized by the will of the decedent.
(Added to NRS by 1975, 1766; A 1999, 1458, 2295; 2001, 91)
143.170 Purchase of property of estate by personal representative. Unless approved in advance by a court after application, notice and a hearing on the matter, a personal representative shall not directly or indirectly purchase any property of the estate represented by the personal representative.
[190:107:1941; 1931 NCL § 9882.190]—(NRS A 1999, 2295; 2001, 2345)
NRS 143.175 Power to make certain investments.
1. A personal representative may, with court approval:
(a) Invest the property of the estate, make loans and accept security therefor, in the manner and to the extent authorized by the court; and
(b) Exercise options of the estate to purchase or exchange securities or other property.
2. A personal representative may, without prior approval of the court, invest the property of the estate in:
(a) Savings accounts in a bank, credit union or savings and loan association in this State, to the extent that the deposit is insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or a private insurer approved pursuant to NRS 678.755;
(b) Interest-bearing obligations of, or fully guaranteed by, the United States;
(c) Interest-bearing obligations of the United States Postal Service or the Federal National Mortgage Association;
(d) Interest-bearing obligations of this State or of a county, city or school district of this State;
(e) Money-market mutual funds that are invested only in obligations listed in paragraphs (a) to (d), inclusive; or
(f) Any other investment authorized by the will of the decedent.
(Added to NRS by 1975, 1766; A 1999, 1458, 2295; 2001, 91)
