A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, shall use those special skills or expertise.
History: Laws 2003, ch. 122, § 8-806.
Effective dates. — Laws 2003, ch. 122, § 11-1106 made the act effective July 1, 2003.
Structure New Mexico Statutes
Chapter 46A - Uniform Trust Code
Article 8 - Duties and Powers of Trustee
Section 46A-8-801 - Duty to administer trust.
Section 46A-8-802 - Duty of loyalty.
Section 46A-8-803 - Impartiality.
Section 46A-8-804 - Prudent administration.
Section 46A-8-805 - Costs of administration.
Section 46A-8-806 - Trustee's skills.
Section 46A-8-807 - Delegation by trustee.
Section 46A-8-809 - Control and protection of trust property.
Section 46A-8-810 - Recordkeeping and identification of trust property.
Section 46A-8-811 - Enforcement and defense of claims.
Section 46A-8-812 - Collecting trust property.
Section 46A-8-813 - Duty to inform and report.
Section 46A-8-814 - Discretionary powers; tax savings.
Section 46A-8-815 - General powers of trustee.