LegalFix
Sign In

Section 46-14-11 - No duty to monitor, inform or advise.

NM Stat § 46-14-11 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

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.

History: Laws 2018, ch. 63, § 11.

Effective dates. — Laws 2018, ch. 63, § 25 makes Laws 2018, ch. 63, § 11 effective January 1, 2019.

Previous Section
Section 46-14-10 - Duty to provide information to trust director or trustee.
Next Section
Section 46-14-12 - Application to cotrustee [co-trustee].