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2019 New Mexico Statutes
Chapter 46 - Fiduciaries and Trusts
Article 14 - Uniform Directed Trust
Section 46-14-6 - Powers of trust director.
Universal Citation: NM Stat § 46-14-6 (2019)
A. Subject to Section 7 [46-14-7 NMSA 1978] of the Uniform Directed Trust Act, the terms of a trust may grant a power of direction to a trust director.
B. Unless the terms of a trust provide otherwise:
(1) a trust director may exercise any further power appropriate to the exercise or nonexercise of a power of direction granted to the director under Subsection A of this section; and
(2) trust directors with joint powers shall act by majority decision.
History: Laws 2018, ch. 63, § 6.
ANNOTATIONSEffective dates. — Laws 2018, ch. 63, § 25 makes Laws 2018, ch. 63, § 6 effective January 1, 2019.
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