A. Notice to a person with authority to represent and bind another person under a first-trust instrument or the Uniform Trust Code [N.M. Stat. Ann. Chapter 46A] has the same effect as notice given directly to the person represented.

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Terms Used In New Mexico Statutes 46-12-108

  • 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

B. Consent of or waiver by a person with authority to represent and bind another person under a first-trust instrument or the Uniform Trust Code is binding on the person represented unless the person represented objects to the representation before the consent or waiver otherwise would become effective.

C. A person with authority to represent and bind another person under a first-trust instrument or the Uniform Trust Code may file an application under Section 1-109 [46- 12-109 NMSA 1978] of the Uniform Trust Decanting Act on behalf of the person represented.

D. A settlor shall not represent or bind a beneficiary under the Uniform Trust Decanting Act.

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