Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.
History: Laws 2003, ch. 122, § 5-507.
Effective dates. — Laws 2003, ch. 122, § 11-1106 made the act effective July 1, 2003.
Law reviews. — For article, "The New Mexico Uniform Trust Code," see 34 N.M.L. Rev. 1 (2004).
Structure New Mexico Statutes
Chapter 46A - Uniform Trust Code
Article 5 - Creditor's Claims; Spendthrift and Discretionary Trusts
Section 46A-5-501 - Rights of beneficiary's creditor or assignee.
Section 46A-5-502 - Spendthrift provision.
Section 46A-5-503 - Exceptions to spendthrift provision.
Section 46A-5-504 - Discretionary trusts; effect of standard.
Section 46A-5-505 - Creditor's claim against settlor.