There is a newer version of the New Mexico Statutes
2014 New Mexico Statutes
Chapter 45 - Uniform Probate Code
Section 7 Trust Administration
Section 6 Uniform Prudent Investor Act
Section 45-7-602 Prudent investor rule.
NM Stat § 45-7-602 (2014) What's This?
45-7-602. Prudent investor rule.
A. Except as otherwise provided in Subsection B of this section, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in the Uniform Prudent Investor Act [45-7-601 through 45-7-612 NMSA 1978].
B. The prudent investor rule, a default rule, may be expanded, restricted, eliminated or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.
History: 1978 Comp., 45-7-602, enacted by Laws 1995, ch. 210, 83.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
