A. A trustee shall keep adequate records of the administration of the trust.
B. A trustee shall keep trust property separate from the trustee's own property.
C. Except as otherwise provided in Subsection D of this section, a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.
D. If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of two or more separate trusts.
History: Laws 2003, ch. 122, § 8-810.
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.