N.M. Stat. § 45-1-108

Current through 2024, ch. 69
Section 45-1-108 - Acts by holder of general power

For the purpose of granting consent or approval with regard to the acts or accounts of a personal representative or trustee, including relief from liability or penalty for failure to post bond, or to perform other duties, and for purposes of consenting to modification or termination of a trust or deviation from its terms, the sole holder or all co-holders of a presently exercisable general power of appointment, including one in the form of a power of amendment or revocation, are deemed to act for beneficiaries to the extent their interests, as objects, takers in default or otherwise, are subject to the power.

NMS § 45-1-108

1953 Comp., § 32A-1-108, enacted by Laws 1975, ch. 257, § 1-108; 2016, ch. 69, § 701.
Amended by 2016, c. 69,s. 701, eff. 7/1/2016.