N.M. Stat. § 46-14-6

Current through 2024, ch. 69

Section 46-14-6 - Powers of trust director

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.

NMS § 46-14-6

Added by 2018, c. 63,s. 6, eff. 1/1/2019.