Chapter 46 — Chapter 46

A. Except as otherwise provided in Subsection C of this section, if exercise of the decanting power was intended to distribute all the principal of the first trust to one or more second trusts, later-discovered property belonging to the first trust and property paid to or acquire…

A debt, liability or other obligation enforceable against property of a first trust is enforceable to the same extent against the property when held by the second trust after exercise of the decanting power. History: Laws 2016, ch. 72, § 1-127.

In applying and construing the Uniform Trust Decanting Act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. History: Laws 2016, ch. 72, § 1-128.

Commerce Act. The Uniform Trust Decanting Act modifies, limits or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c), or authorize …

Sections 1 through 18 of this act [46-13-1 to 46-13-18 NMSA 1978] may be cited as the "Revised Uniform Fiduciary Access to Digital Assets Act". History: Laws 2017, ch. 72, § 1.

Unless otherwise ordered by the court, directed by the principal or provided by a power of attorney, a custodian shall disclose to an agent with specific authority over digital assets or general authority to act on behalf of a principal a catalogue of electronic communications se…

an original user. Unless otherwise ordered by the court or provided in a trust, a custodian shall disclose to a trustee that is an original user of an account any digital asset of the account held in trust, including a catalogue of electronic communications of the trustee and the…

in trust when trustee is not an original user. Unless otherwise ordered by the court, directed by the user or provided in a trust, a custodian shall disclose to a trustee that is not an original user of an account the content of an electronic communication sent or received by an …

trustee is not an original user. Unless otherwise ordered by the court, directed by the user or provided in a trust, a custodian shall disclose, to a trustee that is not an original user of an account, a catalogue of electronic communications sent or received by an original or su…

person. A. After an opportunity for a hearing under Chapter 45, Article 5 NMSA 1978, the court may grant a conservator access to the digital assets of a protected person. B. Unless otherwise ordered by the court or directed by the user, a custodian shall disclose to a conservator…

A. The legal duties imposed on a fiduciary charged with managing tangible property apply to the management of digital assets, including: (1) the duty of care; (2) the duty of loyalty; and (3) the duty of confidentiality. B. A fiduciary's or designated recipient's authority with r…

A. Not later than sixty days after receipt of the information required under Sections 7 through 15 [46-13-7 to 46-13-15 NMSA 1978] of the Revised Uniform Fiduciary Access to Digital Assets Act, a custodian shall comply with a request under the Revised Uniform Fiduciary Access to …

In applying and construing the Revised Uniform Fiduciary Access to Digital Assets Act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. History: Laws 2017, ch. 72, § 17.

Commerce Act. The Revised Uniform Fiduciary Access to Digital Assets Act modifies, limits or supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit or supersede Section 101(c) of that act, 15 U.…

As used in the Revised Uniform Fiduciary Access to Digital Assets Act: A. "account" means an arrangement under a terms-of-service agreement in which a custodian carries, maintains, processes, receives or stores a digital asset of the user or provides goods or services to the user…

A. The Revised Uniform Fiduciary Access to Digital Assets Act applies to: (1) a fiduciary acting under a will or power of attorney executed before, on or after July 1, 2017; (2) a personal representative acting for a decedent who died before, on or after July 1, 2017; (3) a conse…

A. A user may use an online tool to direct the custodian to disclose to a designated recipient or not to disclose some or all of the user's digital assets, including the content of electronic communications. If the online tool allows the user to modify or delete a direction at al…

A. The Revised Uniform Fiduciary Access to Digital Assets Act does not change or impair a right of a custodian or a user under a terms-of-service agreement to access and use digital assets of the user. B. The Revised Uniform Fiduciary Access to Digital Assets Act does not give a …

A. When disclosing digital assets of a user under the Revised Uniform Fiduciary Access to Digital Assets Act, the custodian may at its sole discretion: (1) grant a fiduciary or designated recipient full access to the user's account; (2) grant a fiduciary or designated recipient p…

deceased user. If a deceased user consented to, or a court directs, disclosure of the contents of electronic communications of the user, the custodian shall disclose to the personal representative of the estate of the user the content of an electronic communication sent or receiv…

Unless the user prohibited disclosure of digital assets or the court directs otherwise, a custodian shall disclose to the personal representative of the estate of a deceased user a catalogue of electronic communications sent or received by the user and digital assets, other than …

principal. To the extent a power of attorney expressly grants an agent authority over the content of electronic communications sent or received by the principal and unless directed otherwise by the principal or the court, a custodian shall disclose to the agent the content if the…

Sections 1 through 18 [46-14-1 to 46-14-18 NMSA 1978] of this act may be cited as the "Uniform Directed Trust Act". History: Laws 2018, ch. 63, § 1.

A. Subject to Section 11 [46-14-11 NMSA 1978] of the Uniform Directed Trust Act, a trustee shall provide information to a trust director to the extent the information is reasonably related both to: (1) the powers or duties of the trustee; and (2) the powers or duties of the direc…

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 t…

The terms of a trust may relieve a cotrustee [co-trustee] from duty and liability with respect to another cotrustee's [co-trustee's] exercise or nonexercise of a power of the other cotrustee [co-trustee] to the same extent that, in a directed trust, a directed trustee is relieved…

A. An action against a trust director for breach of trust shall be commenced within the same limitation period provided for in Section 46A-10-1005 NMSA 1978 for an action for breach of trust against a trustee in a like position and under similar circumstances. B. A report or acco…

In an action against a trust director for breach of trust, the director may assert the same defenses a trustee in a like position and under similar circumstances could assert in an action for breach of trust against the trustee. History: Laws 2018, ch. 63, § 14.

A. By accepting appointment as a trust director of a trust subject to the Uniform Directed Trust Act, the director submits to the personal jurisdiction of the courts of New Mexico regarding any matter related to a power or duty of the director. B. This section does not preclude o…

Unless the terms of a trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding the following matters: A. acceptance under Section 46A-7-701 NMSA 1978; B. giving of bond to secure performance under Section 46A-7-702 NMSA 1978; C. reasonable co…

In applying and construing the Uniform Directed Trust Act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. History: Laws 2018, ch. 63, § 17.

Commerce Act. The Uniform Directed Trust Act modifies, limits or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., but does not modify, limit or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c), or authorize e…

As used in the Uniform Directed Trust Act: A. "breach of trust" includes a violation by a trust director or trustee of a duty imposed on that director or trustee by the terms of the trust, by the Uniform Directed Trust Act or by another law of New Mexico pertaining to trusts; B. …

A. The Uniform Directed Trust Act applies to a trust, whenever created, that has its principal place of administration in New Mexico, subject to the following rules: (1) if the trust was created before January 1, 2019, that act applies only to a decision or action occurring on or…

The common law and principles of equity supplement the Uniform Directed Trust Act, except to the extent modified by that act or another law of New Mexico. History: Laws 2018, ch. 63, § 4.

A. As used in this section, "power of appointment" means a power that enables a person acting in a nonfiduciary capacity to designate a recipient of an ownership interest in, or another power of appointment over, trust property. B. The Uniform Directed Trust Act does not apply to…

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 exercis…

A trust director is subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction or further power under Paragraph (1) of Subsection B of Section 6 [46-14-6 NMSA 1978] of the Uniform Directed Trust…

A. Subject to Subsection B of this section, with respect to a power of direction or a further power under Paragraph (1) of Subsection B of Section 6 [46-14-6 NMSA 1978] of the Uniform Directed Trust Act: (1) a trust director has the same fiduciary duty and liability in the exerci…

A. Subject to Subsection B of this section, a directed trustee shall take reasonable action to comply with a trust director's exercise or nonexercise of a power of direction or further power under Paragraph (1) of Subsection B of Section 6 [46-14-6 NMSA 1978] of the Uniform Direc…