If the happening of an event, including marriage, divorce, performance of educational requirements or death, affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee's lack of knowledge.
History: Laws 2003, ch. 122, § 10-1006; recompiled as § 46A-10-1007 by Laws 2007, ch. 128, § 30.
Recompilation. — Laws 2007, ch. 128, § 30 recompiled former 46A-10-1006 NMSA 1978, as enacted by Laws 2003, ch. 122, § 10-1006, as 46A-10-1007 NMSA 1978, effective July 1, 2007.
Law reviews. — For article, "The New Mexico Uniform Trust Code," see 34 N.M.L. Rev. 1 (2004).
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