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2019 New Mexico Statutes
Chapter 46 - Fiduciaries and Trusts
Article 14 - Uniform Directed Trust
Section 46-14-13 - Limitation of action against trust director.
Universal Citation: NM Stat § 46-14-13 (2019)
A. An action against a trust director for breach of trust shall be commenced within the same limitation period provided for in Section 46A-10-1005 NMSA 1978 for an action for breach of trust against a trustee in a like position and under similar circumstances.
B. A report or accounting has the same effect on the limitation period for an action against a trust director for breach of trust that the report or accounting would have under Section 46A-10-1005 NMSA 1978 in an action for breach of trust against a trustee in a like position and under similar circumstances.
History: Laws 2018, ch. 63, § 13.
ANNOTATIONSEffective dates. — Laws 2018, ch. 63, § 25 makes Laws 2018, ch. 63, § 13 effective January 1, 2019.
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