New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 7 - Trust Administration

Part 1 - Principal Place Of Administration

Section 45-7-101 to 45-7-104 - Repealed. - History: 1953 Comp., § 32A-7-101, enacted by Laws 1975, ch....

Section 45-7-105 - Registration; qualification of foreign trustee. - A. A foreign corporate trustee is required to qualify as...

Part 2 - Jurisdiction Of Court Concerning

Section 45-7-201 to 45-7-206 - Repealed. - History: 1953 Comp., § 32A-7-201, enacted by Laws 1975, ch....

Part 3 - Duties And Liabilities Of Trustees

Section 45-7-301 to 45-7-307 - Repealed. - History: 1953 Comp., § 32A-7-301, enacted by Laws 1975, ch....

Part 4 - Powers Of Trustees

Section 45-7-401 - Repealed. - History: 1953 Comp., § 32A-7-401, enacted by Laws 1975, ch....

Part 5 - Custodial Trusts

Section 45-7-501 - Short title. - Sections 45-7-501 through 45-7-522 NMSA 1978 may be cited as...

Section 45-7-502 - Definitions. - As used in the Uniform Custodial Trust Act [45-7-501 to...

Section 45-7-503 - Custodial trust; general. - A. A person may create a custodial trust of property...

Section 45-7-504 - Custodial trustee for future payment or transfer. - A. A person having the right to designate the recipient...

Section 45-7-505 - Form and effect of receipt and acceptance by custodial trustee; jurisdiction. - A. Obligations of a custodial trustee, including the obligation to...

Section 45-7-506 - Transfer to custodial trustee by fiduciary or obligor; facility of payment. - A. Unless otherwise directed by an instrument designating a custodial...

Section 45-7-507 - Multiple beneficiaries; separate custodial trusts; survivorship. - A. Beneficial interests in a custodial trust created for multiple...

Section 45-7-508 - General duties of custodial trustee. - A. If appropriate, a custodial trustee shall register or record...

Section 45-7-509 - General powers of custodial trustee. - A. A custodial trustee, acting in a fiduciary capacity, has...

Section 45-7-510 - Use of custodial trust property. - A. A custodial trustee shall pay to the beneficiary or...

Section 45-7-511 - Determination of incapacity; effect. - A. The custodial trustee shall administer the custodial trust as...

Section 45-7-512 - Exemption of third person from liability. - A third person in good faith and without a court...

Section 45-7-513 - Liability to third person. - A. A claim based on a contract entered into by...

Section 45-7-514 - Declination, resignation, incapacity, death or removal of custodial trustee; designation of successor custodial trustee. - A. Before accepting the custodial trust property, a person designated...

Section 45-7-515 - Expenses, compensation and bond of custodial trustee. - Except as otherwise provided in the instrument creating the custodial...

Section 45-7-516 - Reporting and accounting by custodial trustee; determination of liability of custodial trustee. - A. Upon the acceptance of custodial trust property, the custodial...

Section 45-7-517 - Limitations of action against custodial trustee. - A. Except as provided in Subsection C of this section,...

Section 45-7-518 - Distribution on termination. - A. Upon termination of a custodial trust, the custodial trustee...

Section 45-7-519 - Methods and forms for creating custodial trusts. - A. If a transaction, including a declaration with respect to...

Section 45-7-520 - Applicable law. - A. The Uniform Custodial Trust Act [45-7-501 to 45-7-522 NMSA...

Section 45-7-521 - Uniformity of application and construction. - The Uniform Custodial Trust Act [45-7-501 to 45-7-522 NMSA 1978]...

Section 45-7-522 - Severability. - If any provision of the Uniform Custodial Trust Act [45-7-501...

Part 6 - Uniform Prudent Investor Act

Section 45-7-601 - Short title. - Sections 45-7-601 through 45-7-612 NMSA 1978 may be cited as...

Section 45-7-602 - Prudent investor rule. - A. Except as otherwise provided in Subsection B of this...

Section 45-7-603 - Standard of care; portfolio strategy; risk and return objectives. - A. A trustee shall invest and manage trust assets as...

Section 45-7-604 - Diversification. - A trustee shall diversify the investments of the trust unless...

Section 45-7-605 - Duties at inception of trusteeship. - Within a reasonable time after accepting a trusteeship or receiving...

Section 45-7-606 - Loyalty. - A trustee shall invest and manage the trust assets solely...

Section 45-7-607 - Impartiality. - If a trust has two or more beneficiaries, the trustee...

Section 45-7-608 - Investment costs. - In investing and managing trust assets, a trustee may only...

Section 45-7-609 - Reviewing compliance. - Compliance with the prudent investor rule is determined in light...

Section 45-7-610 - Delegation of investment and management functions. - A. A trustee may delegate investment and management functions that...

Section 45-7-611 - Language invoking standard. - The following terms or comparable language in the provisions of...

Section 45-7-612 - Application to existing trusts. - The Uniform Prudent Investor Act [45-7-601 to 45-7-612 NMSA 1978]...