2016 New Mexico Statutes
Chapter 46 - Fiduciaries and Trusts
Article 12 - Uniform Trust Decanting
Section 46-12-103 - Scope. (Effective January 1, 2017.)
46-12-103. Scope. (Effective January 1, 2017.)
A. Except as otherwise provided in Subsections B and C of this section, the Uniform Trust Decanting Act applies to an express trust that is irrevocable or revocable by the settlor only with the consent of the trustee or a person holding an adverse interest.
B. The Uniform Trust Decanting Act does not apply to a trust held solely for charitable purposes.
C. Subject to Section 1-115 [46-12-115 NMSA 1978] of the Uniform Trust Decanting Act, a trust instrument may restrict or prohibit exercise of the decanting power.
D. The Uniform Trust Decanting Act does not limit the power of a trustee, powerholder or other person to distribute or appoint property in further trust or to modify a trust under the trust instrument, New Mexico law other than the Uniform Trust Decanting Act, common law, a court order or a nonjudicial-settlement agreement.
E. The Uniform Trust Decanting Act does not affect the ability of a settlor to provide in a trust instrument for the distribution of the trust property or appointment in further trust of the trust property or for modification of the trust instrument.
History: Laws 2016, ch. 72, 1-103.
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