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2017 New Mexico Statutes
Chapter 45 - Uniform Probate Code
Article 7 - Trust Administration
Part 5 - Custodial Trusts
Section 45-7-509 - General powers of custodial trustee.
Universal Citation: NM Stat § 45-7-509 (2017)
45-7-509. General powers of custodial trustee.
A. A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property that an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fudiciary [fiduciary] capacity only.
B. This section does not relieve a custodial trustee from liability for a violation of Section 45-7-508 NMSA 1978.
History: 1978 Comp., 45-7-509, enacted by Laws 1992, ch. 66, 56.
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