Bill > SB101

This bill enacts the Uniform Directed Trust Act, which applies to trusts with their principal place of administration in New Mexico. The key provisions of the bill include: defining important terms like "trust director" and "directed trustee"; granting trust directors certain powers and subjecting them to fiduciary duties; outlining the duties and liabilities of directed trustees; specifying rules around providing information to trust directors and trustees; and establishing limitations on actions against trust directors. The bill also makes conforming amendments to the Uniform Trust Decanting Act and the Uniform Trust Code.

Business and Industry, Government Affairs, Justice

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=S&legtype=B&legno=101&year=18