Venue for conservatorship proceedings is:
A. in the judicial district where the person to be protected resides or is present; or B. if the person to be protected does not reside in New Mexico, in any judicial district in New Mexico where he has property. If the person to be protected is admitted to an institution pursuant to the order of a court of competent jurisdiction, venue is also in the judicial district in which that court sits. 1953 Comp., § 32A-5-403, enacted by Laws 1975, ch. 257, § 5-403; 1993, ch. 301, § 13.