1. Except as provided in NRS 163.040 , no corporate trustee shall lend trust funds to itself or an affiliate, or to any director, officer, or employee of itself or of an affiliate. 2. Except as otherwise: (a) Provided in a trust instrument and: (1) Consented to by all beneficiaries of the trust; or (2) Performed in accordance with a notice of a proposed action provided pursuant to NRS 164.725 ; or (b) Approved by a court, a noncorporate trustee, including a limited-liability company, shall not lend trust funds to itself, himself or herself, or to a relative, employer, employee, partner, member or other business associate.
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