All officers, directors, managers, trustees, professional fundraisers, professional fundraising counsel or other persons having access to the money of a charitable organization intended for use for charitable purposes shall be held to the standard of care defined for fiduciary trustees under common law.
History: Laws 1983, ch. 140, § 10; 1999, ch. 124, § 10.
The 1999 amendment, effective July 1, 1999, inserted "professional fundraisers, professional fundraising counsel", and substituted "money" for "funds".
Structure New Mexico Statutes
Chapter 57 - Trade Practices and Regulations
Article 22 - Charitable Solicitations
Section 57-22-1 - Short title.
Section 57-22-3 - Definitions.
Section 57-22-4 - Application of act.
Section 57-22-6 - Filing of required documents.
Section 57-22-6.1 - Professional fundraisers; registration.
Section 57-22-6.2 - Professional fundraisers; bond.
Section 57-22-6.4 - Professional fundraiser; records and reports.
Section 57-22-7 - Restriction on use of fact of filing in solicitation.
Section 57-22-8 - Disclosure of fundraising costs.
Section 57-22-9 - Authority of the attorney general.
Section 57-22-9.1 - Investigative demand; civil penalty.
Section 57-22-9.2 - Exchange of information with other states.
Section 57-22-10 - Standard of care.
Section 57-22-11 - Exemptions from state and local taxation.