A. A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under the Uniform Trust Code [46A-1-101 NMSA 1978] if the charitable organization, on the date the charitable organization's qualification is being determined:
(1) is a distributee or permissible distributee of trust income or principal;
(2) would be a distributee or permissible distributee of trust income or principal upon the termination of the interests of other distributees or permissible distributees then receiving or eligible to receive distributions; or
(3) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.
B. A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in Section 46A-4-408 or 46A-4-409 NMSA 1978 has the rights of a qualified beneficiary under the Uniform Trust Code.
C. The attorney general has the rights of a qualified beneficiary with respect to a charitable trust having its principal place of administration in this state or its charitable beneficiary or beneficiaries that receive or are eligible to receive in the aggregate the trust's largest distribution in this state.
History: Laws 2003, ch. 122, § 1-110; 2007, ch. 128, § 6.
ANNOTATIONSThe 2007 amendment, effective July 1, 2007, eliminated the requirement that notice be given to beneficiaries who have requested notice, gave certain charitable organizations that receive distributions the rights of a qualified beneficiary and gave the attorney general the rights of a qualified beneficiary with respect to a charitable trust having its charitable beneficiaries that receive the trust's largest distribution in New Mexico.