• ARTICLE 1 Fiduciary Obligations and Investments
    • 46-1-1. Definitions. (Repealed effective January 1, 2012.)
      • ANNOTATIONS
    • 46-1-2. Payment or transfer to fiduciary. (Repealed effective January 1, 2012.)
      • ANNOTATIONS
    • 46-1-3. Negotiable instrument transferred by fiduciary. (Repealed effective January 1, 2012.)
      • ANNOTATIONS
    • 46-1-4. Bill of exchange drawn by fiduciary; payee's liability to principal. (Repealed effective January 1, 2012.)
      • ANNOTATIONS
    • 46-1-5. Transfer of bill of exchange drawn by fiduciary who holds it as payee or transferee. (Repealed effective January 1, 2012.)
      • ANNOTATIONS
    • 46-1-6. Bank account in name of fiduciary; check drawn by fiduciary; bank's liability to principal. (Repealed effective January 1, 2012.)
      • ANNOTATIONS
    • 46-1-7. Bank account in name of principal; check drawn by fiduciary; bank's liability to principal. (Repealed effective January 1, 2012.)
      • ANNOTATIONS
    • 46-1-8. Check deposited in fiduciary's personal account; bank's liability to principal. (Repealed effective January 1, 2012.)
      • ANNOTATIONS
    • 46-1-9. Joint trustees; check drawn by one. (Repealed effective January 1, 2012.)
      • ANNOTATIONS
    • 46-1-10. Prior transactions not affected. (Repealed effective January 1, 2012.)
      • ANNOTATIONS
    • 46-1-11. Law governing transactions not in this act. (Repealed effective January 1, 2012.)
      • ANNOTATIONS
    • 46-1-12. Power of fiduciary or custodian to deposit securities in a central depository.
      • ANNOTATIONS
    • 46-1-13. Establishment of common trust funds; inclusion of affiliates.
      • ANNOTATIONS
    • 46-1-14. Court accountings.
    • 46-1-15. Uniformity of interpretation.
    • 46-1-16. Short title.
      • ANNOTATIONS
  • ARTICLE 2 Trusts
    • 46-2-1 to 46-2-19. Repealed.
      • ANNOTATIONS
  • ARTICLE 2A Fiduciary Investments
    • 46-2A-1. Fiduciary investments; certain securities.
      • ANNOTATIONS
  • ARTICLE 3 Principal and Income
    • 46-3-1 to 46-3-15. Repealed.
      • ANNOTATIONS
  • ARTICLE 3A Uniform Principal and Income
    • ARTICLE 1 DEFINITIONS AND FIDUCIARY DUTIES
      • 46-3A-101. Short title.
        • ANNOTATIONS
      • 46-3A-101. Short title. (Effective January 1, 2012.)
        • ANNOTATIONS
      • 46-3A-102. Definitions.
        • ANNOTATIONS
      • 46-3A-103. Fiduciary duties; general principles.
        • ANNOTATIONS
      • 46-3A-104. Trustee's power to adjust.
        • ANNOTATIONS
      • 46-3A-105. Conversion to total return trust.
        • ANNOTATIONS
      • 46-3A-106. Administration of total return trust.
        • ANNOTATIONS
      • 46-3A-107. Determination of matters in administration.
        • ANNOTATIONS
      • 46-3A-108. Distribution of total return trust.
        • ANNOTATIONS
      • 46-3A-109. Restrictions on distributions.
        • ANNOTATIONS
      • 46-3A-110. Limitations on conversion.
        • ANNOTATIONS
      • 46-3A-111. Release.
        • ANNOTATIONS
      • 46-3A-112. Remedies.
        • ANNOTATIONS
      • 46-3A-113. Applicability.
        • ANNOTATIONS
    • ARTICLE 2 DECEDENT'S ESTATE OR TERMINATING INCOME INTEREST
      • 46-3A-201. Determination and distribution of net income.
        • ANNOTATIONS
      • 46-3A-202. Distribution to residuary and remainder beneficiaries.
        • ANNOTATIONS
    • ARTICLE 3 APPORTIONMENT AT BEGINNING AND END OF INCOME INTEREST
      • 46-3A-301. When right to income begins and ends.
        • ANNOTATIONS
      • 46-3A-302. Apportionment of receipts and disbursements when decedent dies or income interest begins.
        • ANNOTATIONS
      • 46-3A-303. Apportionment when income interest ends.
        • ANNOTATIONS
    • ARTICLE 4 Allocation Of Receipts During Administration Of Trust
      • PART 1 RECEIPTS FROM ENTITIES
        • 46-3A-401. Character of receipts.
          • ANNOTATIONS
        • 46-3A-402. Distribution from trust or estate.
          • ANNOTATIONS
        • 46-3A-403. Business and other activities conducted by trustee.
          • ANNOTATIONS
      • PART 2 RECEIPTS NOT NORMALLY APPORTIONED
        • 46-3A-404. Principal receipts.
          • ANNOTATIONS
        • 46-3A-405. Rental property.
          • ANNOTATIONS
        • 46-3A-406. Obligation to pay money.
          • ANNOTATIONS
        • 46-3A-407. Insurance policies and similar contracts.
          • ANNOTATIONS
      • PART 3 RECEIPTS NORMALLY APPORTIONED
        • 46-3A-408. Insubstantial allocations not required.
          • ANNOTATIONS
        • 46-3A-409. Deferred compensation, annuities and similar payments.
          • ANNOTATIONS
        • 46-3A-409. Deferred compensation, annuities and similar payments. (Effective January 1, 2012.)
          • ANNOTATIONS
        • 46-3A-410. Liquidating asset.
          • ANNOTATIONS
        • 46-3A-411. Minerals, water and other natural resources.
          • ANNOTATIONS
        • 46-3A-412. Timber.
          • ANNOTATIONS
        • 46-3A-413. Property not productive of income.
          • ANNOTATIONS
        • 46-3A-414. Derivatives and options.
          • ANNOTATIONS
        • 46-3A-415. Asset-backed securities.
          • ANNOTATIONS
    • ARTICLE 5 Allocation Of Disbursements During Administration Of Trust
      • 46-3A-501. Disbursements from income.
        • ANNOTATIONS
      • 46-3A-502. Disbursements from principal.
        • ANNOTATIONS
      • 46-3A-503. Transfers from income to principal for depreciation.
        • ANNOTATIONS
      • 46-3A-504. Transfers from income to reimburse principal.
        • ANNOTATIONS
      • 46-3A-505. Income taxes.
        • ANNOTATIONS
      • 46-3A-505. Income taxes. (Effective January 1, 2012.)
        • ANNOTATIONS
      • 46-3A-506. Adjustments between principal and income because of taxes.
        • ANNOTATIONS
    • ARTICLE 6 MISCELLANEOUS PROVISIONS
      • 46-3A-601. Uniformity of application and construction.
        • ANNOTATIONS
      • 46-3A-602. Severability clause.
        • ANNOTATIONS
      • 46-3A-603. Application of the Uniform Principal and Income Act to existing trusts and estates.
        • ANNOTATIONS
  • ARTICLE 4 State Beneficiary Trusts
    • 46-4-1. Trusts for state or political subdivision authorized.
    • 46-4-2. Acceptance by beneficiary.
    • 46-4-3. Instruments to be recorded.
      • ANNOTATIONS
    • 46-4-4. Trustees; appointment, succession, powers, duties, term and compensation; status of trustees; liability for acts.
      • ANNOTATIONS
    • 46-4-5. Trust purposes.
    • 46-4-6. Funds to carry out trust.
    • 46-4-7. Lease of property.
    • 46-4-8. Contractual character; duration of trust.
    • 46-4-9. Termination of trust.
  • ARTICLE 5 Testamentary Additions to Trusts
    • 46-5-1 to 46-5-3. Repealed.
      • ANNOTATIONS
  • ARTICLE 6 Surety Bonds
    • 46-6-1. [Corporations which may execute surety bonds; no other surety required; approval of bonds.]
      • ANNOTATIONS
    • 46-6-2. Costs of bond; allowance to fiduciaries; costs in court action.
      • ANNOTATIONS
    • 46-6-3. Release of surety; notice.
      • ANNOTATIONS
    • 46-6-4. [Surety companies; failure to pay judgment; forfeiture of right to do business.]
    • 46-6-5. [Suits against surety companies; estoppel to deny authority.]
      • ANNOTATIONS
    • 46-6-6. [Release from obligation on bond required by statute in civil action; petition; notice; hearing; order.]
      • ANNOTATIONS
    • 46-6-7. [Suit on attachment or replevin bond; no assignment necessary.]
      • ANNOTATIONS
    • 46-6-8. [Agreement with surety over deposits of principal.]
      • ANNOTATIONS
    • 46-6-9. [Arrest bond certificates; surety company undertakings authorized.]
  • ARTICLE 7 Transfers to Minors
    • 46-7-1 to 46-7-10. Repealed.
      • ANNOTATIONS
    • 46-7-11. Short title.
      • ANNOTATIONS
    • 46-7-12. Definitions.
      • ANNOTATIONS
    • 46-7-13. Scope and jurisdiction.
      • ANNOTATIONS
    • 46-7-14. Nomination of custodian.
    • 46-7-15. Transfer by gift or exercise of power of appointment.
    • 46-7-16. Transfer authorized by will or trust.
    • 46-7-17. Other transfer by fiduciary.
    • 46-7-18. Transfer by obligor.
    • 46-7-19. Receipt for custodial property.
    • 46-7-20. Manner of creating custodial property and effecting transfer; designation of initial custodian; control.
      • ANNOTATIONS
    • 46-7-21. Single custodianship.
    • 46-7-22. Validity and effect of transfer.
      • ANNOTATIONS
    • 46-7-23. Care of custodial property.
      • ANNOTATIONS
    • 46-7-24. Powers of custodian.
    • 46-7-25. Use of custodial property.
    • 46-7-26. Custodian's expenses, compensation and bond.
    • 46-7-27. Exemption of third person from liability.
    • 46-7-28. Liability to third persons.
    • 46-7-29. Renunciation, resignation, death or removal of custodian; designation of successor custodian.
    • 46-7-30. Accounting by and determination of liability of custodian.
    • 46-7-31. Termination of custodianship.
      • ANNOTATIONS
    • 46-7-32. Applicability.
      • ANNOTATIONS
    • 46-7-33. Effect on existing custodianships.
      • ANNOTATIONS
    • 46-7-34. Uniformity of application and construction.
      • ANNOTATIONS
  • ARTICLE 8 Simplification of Fiduciary Security Transfers
    • 46-8-1. Short (long) title.
      • ANNOTATIONS
    • 46-8-2. Definitions.
    • 46-8-3. Registration in the name of a fiduciary.
    • 46-8-4. Assignment by a fiduciary.
    • 46-8-5. Evidence of appointment or incumbency.
    • 46-8-6. Adverse claims.
    • 46-8-7. Non-liability of corporation and transfer agent.
    • 46-8-8. Non-liability of third persons.
    • 46-8-9. Territorial application.
    • 46-8-10. Tax obligations.
  • ARTICLE 9 Uniform Management of Institutional Funds Act
    • 46-9-1. Repealed.
      • ANNOTATIONS
    • 46-9-2. Repealed.
      • ANNOTATIONS
    • 46-9-3. Repealed.
      • ANNOTATIONS
    • 46-9-4. Repealed.
      • ANNOTATIONS
    • 46-9-5. Repealed.
      • ANNOTATIONS
    • 46-9-6. Repealed.
      • ANNOTATIONS
    • 46-9-7. Repealed.
      • ANNOTATIONS
    • 46-9-8. Repealed.
      • ANNOTATIONS
    • 46-9-9. Repealed.
      • ANNOTATIONS
    • 46-9-10. Repealed.
      • ANNOTATIONS
    • 46-9-11. Repealed.
      • ANNOTATIONS
    • 46-9-12. Repealed.
      • ANNOTATIONS
  • ARTICLE 9A Uniform Prudent Management of Institutional Funds
    • 46-9A-1. Short title.
      • ANNOTATIONS
    • 46-9A-2. Definitions.
      • ANNOTATIONS
    • 46-9A-3. Standard of conduct in managing and investing an institutional fund.
      • ANNOTATIONS
    • 46-9A-4. Appropriation for expenditure or accumulation of an endowment fund; rules of construction.
      • ANNOTATIONS
    • 46-9A-5. Delegation of management and investment functions.
      • ANNOTATIONS
    • 46-9A-6. Release or modification of restrictions on management, investment or purpose.
      • ANNOTATIONS
    • 46-9A-7. Reviewing compliance.
      • ANNOTATIONS
    • 46-9A-8. Application to existing institutional funds.
      • ANNOTATIONS
    • 46-9A-9. Relation to Electronic Signatures in Global and National Commerce Act.
      • ANNOTATIONS
    • 46-9A-10. Uniformity of application and construction.
      • ANNOTATIONS
  • ARTICLE 10 Uniform Disclaimer of Property Interests Act
    • 46-10-1. Short title. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-2. Definitions. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-3. Scope. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-4. Uniform Disclaimer of Property Interests Act supplemented by other law. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-5. Power to disclaim; general requirements; when irrevocable. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-6. Disclaimer of interest in property. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-7. Disclaimer of rights of survivorship in jointly held property. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-8. Disclaimer of interest by trustee. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-9. Disclaimer of power of appointment or other power not held in fiduciary capacity. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-10. Disclaimer by appointee, object or taker in default of exercise of power of appointment. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-11. Disclaimer of power held in fiduciary capacity. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-12. Delivery or filing. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-13. When disclaimer barred or limited. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-14. Tax qualified disclaimer. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-15. Recording of disclaimer. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-16. Application to existing relationships. (Recompiled effective January 1, 2012.)
      • ANNOTATIONS
    • 46-10-17. Uniformity of application and construction. (Repealed effective January 1, 2012.)
      • ANNOTATIONS
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Historical New Mexico Statutes Annotated 1978

Decision Information

Chapter 46 - Fiduciaries and Trusts (2011)

Collection Historical New Mexico Statutes Annotated 1978
File Number Chapter 46 NMSA 1978

Decision Content

Footnotes