2011 New Mexico Statutes
Chapter 46: Fiduciaries and Trusts
Article 1: Fiduciary Obligations and Investments, 46-1-1 through 46-1-16
Section 46-1-1: Definitions. (Repealed effective January 1, 2012.)

46-1-1. Definitions. (Repealed effective January 1, 2012.)

A. In this act [46-1-1 to 46-1-11 NMSA 1978] unless the context or subject matter otherwise requires:

"bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking;

"fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer or any other person acting in a fiduciary capacity for any person, trust or estate;

"person" includes a corporation, partnership or other association, or two or more persons having a joint or common interest;

"principal" includes any person to whom a fiduciary as such owes an obligation.

B. A thing is done "in good faith" within the meaning of this act, when it is in fact done honestly, whether it be done negligently or not.