A trustee owning stock may hold it in the name of a nominee without mention of the trust in the stock certificate or stock registration books; providing that:
1. The trust records and all reports or accounts rendered by the trustee clearly show the ownership of the stock by the trustee and the facts regarding its holding; and
2. The nominee shall deposit with the trustee a signed statement showing the trust ownership.
The trustee shall be personally liable for any loss to the trust resulting from any act of such nominee in connection with stock so held.
[8:136:1941; 1931 NCL § 7718.37] — (NRS A 1961, 471)