New Mexico Statutes > Chapter 45 > Article 6 > Part 2 > SUBPART 1 – Definitions And General Provisions
Current as of: 2023 | Check for updates
|
Other versions
§ 45-6-201 | Definitions |
§ 45-6-202 | Limitation on scope |
§ 45-6-203 | Types of account; existing accounts |
§ 45-6-204 | Forms |
§ 45-6-205 | Designation of agent |
§ 45-6-206 | Applicability |
Terms Used In New Mexico Statutes > Chapter 45 > Article 6 > Part 2 > SUBPART 1 - Definitions And General Provisions
- 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
- Contract: A legal written agreement that becomes binding when signed.
- Conviction: A judgement of guilt against a criminal defendant.
- 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.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fiduciary: A trustee, executor, or administrator.
- Oath: A promise to tell the truth.
- 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.
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
- Testify: Answer questions in court.
- 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.