New Mexico Statutes 45-6-225. Payment to minor
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If a financial institution is required or permitted to make payment pursuant to Sections 45-6-201 through 45-6-227 N.M. Stat. Ann. to a minor designated as a beneficiary, payment may be made pursuant to the Uniform Transfers to Minors Act [46- 7-11 to 46-7-34 N.M. Stat. Ann.].
Terms Used In New Mexico Statutes 45-6-225
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC