Section 45-7-608 – Investment costs.
In investing and managing trust assets, a trustee may only incur costs that are appropriate and reasonable in relation to the assets, the purposes of the trust and the skills of the trustee. History: 1978 Comp., § 45-7-608, enacted by Laws 1995, ch. 210, § 89. ANNOTATIONS Effective dates. — Laws 1995, ch. 210, § […]
Section 45-7-609 – Reviewing compliance.
Compliance with the prudent investor rule is determined in light of the facts and circumstances existing at the time of a trustee’s decision or action and not by hindsight. History: 1978 Comp., § 45-7-609, enacted by Laws 1995, ch. 210, § 90. ANNOTATIONS Effective dates. — Laws 1995, ch. 210, § 94 made the Uniform […]
Section 45-7-610 – Delegation of investment and management functions.
A. A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill and caution in: (1) selecting an agent; (2) establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and […]
Section 45-7-611 – Language invoking standard.
The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under the Uniform Prudent Investor Act [45-7-601 to 45-7-612 NMSA 1978]: “investments permissible by law for investment of trust funds”, “legal investments”, “authorized investments”, “using the judgment and care under the circumstances […]
Section 45-7-612 – Application to existing trusts.
The Uniform Prudent Investor Act [45-7-601 to 45-7-612 NMSA 1978] applies to trusts existing on and created after its effective date. As applied to trusts existing on its effective date, the Uniform Prudent Investor Act governs only decisions or actions occurring after that date. History: 1978 Comp., § 45-7-612, enacted by Laws 1995, ch. 210, […]
Section 45-8-1 to 45-8-8 – Repealed.
ANNOTATIONS Repeals. — Laws 1993, ch. 174, § 84 repealed 45-8-1 to 45-8-8 NMSA 1978, as enacted by Laws 1959, ch. 172, §§ 1 to 8, the Simultaneous Death Act, effective July 1, 1993. For provisions of former sections, see the 1992 NMSA 1978 on NMOneSource.com. For present similar provisions, see 45-1-201A(47), 45-2-104, 45-2-702 NMSA […]
Section 45-8-9 – Recompiled.
ANNOTATIONS Recompilations. — Laws 1993, ch. 174, § 65 recompiled former 45-8-9 NMSA 1978, as enacted by Laws 1973, ch. 276, § 8, relating to the validity and effect of wills executed by a wife prior to July 1, 1973, as 45-2-806 NMSA 1978, effective July 1, 1993. Laws 2011, ch. 124, § 33 recompiled […]
Section 45-9A-1 – Recompiled.
History: Laws 2005, ch. 143, § 5; recompiled by Laws 2011, ch. 124, § 99. ANNOTATIONS Recompilations. — Laws 2011, ch. 124, § 99 recompiled former 45-9A-1 NMSA 1978 as 45-3-920 NMSA 1978, effective January 1, 2012.
Section 45-9A-2 – Recompiled.
History: Laws 2005, ch. 143, § 6; recompiled by Laws 2011, ch. 124, § 99. ANNOTATIONS Recompilations. — Laws 2011, ch. 124, § 99 recompiled former 45-9A-2 NMSA 1978 as 45-3-921 NMSA 1978, effective January 1, 2012.
Section 45-9A-3 – Recompiled.
History: Laws 2005, ch. 143, § 7; recompiled by Laws 2011, ch. 124, § 99. ANNOTATIONS Recompilations. — Laws 2011, ch. 124, § 99 recompiled former 45-9A-3 NMSA 1978 as 45-3-922 NMSA 1978, effective January 1, 2012.