General powers of custodial trustee

A. A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property that an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fudiciary [fiduciary] capacity only. B. This section does not relieve a custodial trustee from liability for a violation of Section 45-7-508 NMSA 1978. History: 1978 Comp., § 45-7-509, enacted by Laws 1992, ch. 66, § 56.