N.M. Stat. § 46-14-11

Current through 2024, ch. 69
Section 46-14-11 - No duty to monitor, inform or advise
A. Unless the terms of a trust provide otherwise:
(1) a trustee does not have a duty to:
(a) monitor a trust director; or
(b) inform or give advice to a settlor, beneficiary, trustee or trust director concerning an instance in which the trustee might have acted differently than the director; and
(2) by taking an action described in Paragraph (1) of this subsection, a trustee does not assume the duty excluded by that paragraph.
B. Unless the terms of a trust provide otherwise:
(1) a trust director does not have a duty to:
(a) monitor a trustee or another trust director; or
(b) inform or give advice to a settlor, beneficiary, trustee or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and
(2) by taking an action described in Paragraph (1) of this subsection, a trust director does not assume the duty excluded by that paragraph.

NMS § 46-14-11

Added by 2018, c. 63,s. 11, eff. 1/1/2019.