New Mexico Statutes 45-6-202. Limitation on scope
Current as of: 2023 | Check for updates
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Sections 45-6-201 through 45-6-227 N.M. Stat. Ann. do not apply to:
Terms Used In New Mexico Statutes 45-6-202
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiduciary: A trustee, executor, or administrator.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
A. an account established for a partnership, joint venture or other organization for a business purpose;
B. an account controlled by one or more persons as an agent or trustee for a corporation, unincorporated association, or charitable or civic organization; or
C. a fiduciary or trust account in which the relationship is established other than by the terms of the account.