2019 New Mexico Statutes
Chapter 46 - Fiduciaries and Trusts
Article 14 - Uniform Directed Trust
Section 46-14-11 - No duty to monitor, inform or advise.
A. Unless the terms of a trust provide otherwise:
(1) a trustee does not have a duty to:
(a) monitor a trust director; or
(b) inform or give advice to a settlor, beneficiary, trustee or trust director concerning an instance in which the trustee might have acted differently than the director; and
(2) by taking an action described in Paragraph (1) of this subsection, a trustee does not assume the duty excluded by that paragraph.
B. Unless the terms of a trust provide otherwise:
(1) a trust director does not have a duty to:
(a) monitor a trustee or another trust director; or
(b) inform or give advice to a settlor, beneficiary, trustee or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and
(2) by taking an action described in Paragraph (1) of this subsection, a trust director does not assume the duty excluded by that paragraph.
History: Laws 2018, ch. 63, § 11.
ANNOTATIONSEffective dates. — Laws 2018, ch. 63, § 25 makes Laws 2018, ch. 63, § 11 effective January 1, 2019.
