2011 New Mexico Statutes
Chapter 45: Uniform Probate Code
Article 2: Intestate Succession and Wills, 45-2-101 through 45-2-1116
Section 45-2-1111: Disclaimer of power held in fiduciary capacity. (Effective January 1, 2012.)
45-2-1111. Disclaimer of power held in fiduciary capacity. (Effective January 1, 2012.)
A. If a fiduciary disclaims a power held in a fiduciary capacity that has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.
B. If a fiduciary disclaims a power held in a fiduciary capacity that has been exercised, the disclaimer takes effect immediately after the last exercise of the power.
C. A disclaimer under this section is effective as to another fiduciary if the disclaimer so provides and the fiduciary disclaiming has the authority to bind the estate, trust or other person for whom the fiduciary is acting.
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