Powers of trust director.

  1. Law
  2. New Mexico Statutes
  3. Fiduciaries and Trusts
  4. Uniform Directed Trust
  5. Powers of trust director.

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A. Subject to Section 7 [46-14-7 NMSA 1978] of the Uniform Directed Trust Act, the terms of a trust may grant a power of direction to a trust director.

B. Unless the terms of a trust provide otherwise:

(1) a trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted to the director under Subsection A of this section; and

(2) trust directors with joint powers shall act by majority decision.

History: Laws 2018, ch. 63, § 6.

ANNOTATIONS

Effective dates. — Laws 2018, ch. 63, § 25 makes Laws 2018, ch. 63, § 6 effective January 1, 2019.


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