General powers of trustee.

  1. Law
  2. New Mexico Statutes
  3. Uniform Trust Code
  4. Duties and Powers of Trustee
  5. General powers of trustee.

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A. A trustee, without authorization by the court, may exercise:

(1) powers conferred by the terms of the trust; and

(2) except as limited by the terms of the trust:

(a) all powers over the trust property that an unmarried competent owner has over individually owned property;

(b) any other powers appropriate to achieve the proper investment, management and distribution of the trust property; and

(c) any other powers conferred by the Uniform Trust Code [46A-1-101 NMSA 1978].

B. The exercise of a power is subject to the fiduciary duties prescribed by Chapter 46A, Article 8 NMSA 1978.

History: Laws 2003, ch. 122, § 8-815; 2007, ch. 128, § 24.

ANNOTATIONS

The 2007 amendment, effective July 1, 2007, changed the statutory reference in Subsection B.


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