A. If the terms of a trust do not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the circumstances.
B. If the terms of a trust specify the trustee's compensation, the trustee is entitled to be compensated as specified, but the court may allow more or less compensation if:
(1) the duties of the trustee are substantially different from those contemplated when the trust was created; or
(2) the compensation specified by the terms of the trust would be unreasonably low or high.
History: Laws 2003, ch. 122, § 7-708.
Effective dates. — Laws 2003, ch. 122, § 11-1106 made the act effective July 1, 2003.
Structure New Mexico Statutes
Chapter 46A - Uniform Trust Code
Section 46A-7-701 - Accepting or declining trusteeship.
Section 46A-7-702 - Trustee's bond.
Section 46A-7-703 - Co-trustees.
Section 46A-7-704 - Vacancy in trusteeship; appointment of successor.
Section 46A-7-705 - Resignation of trustee.
Section 46A-7-706 - Removal of trustee.
Section 46A-7-707 - Delivery of property by former trustee.