§ 45-7-105 Registration; qualification of foreign trustee
§ 45-7-501 Short title
§ 45-7-502 Definitions
§ 45-7-503 Custodial trust; general
§ 45-7-504 Custodial trustee for future payment or transfer
§ 45-7-505 Form and effect of receipt and acceptance by custodial trustee; jurisdiction
§ 45-7-506 Transfer to custodial trustee by fiduciary or obligor;
§ 45-7-507 Multiple beneficiaries; separate custodial trusts;
§ 45-7-508 General duties of custodial trustee
§ 45-7-509 General powers of custodial trustee
§ 45-7-510 Use of custodial trust property
§ 45-7-511 Determination of incapacity; effect
§ 45-7-512 Exemption of third person from liability
§ 45-7-513 Liability to third person
§ 45-7-514 Declination, resignation, incapacity, death or removal of custodial trustee; designation of successor custodial trustee
§ 45-7-515 Expenses, compensation and bond of custodial trustee
§ 45-7-516 Reporting and accounting by custodial trustee;
§ 45-7-517 Limitations of action against custodial trustee
§ 45-7-518 Distribution on termination
§ 45-7-519 Methods and forms for creating custodial trusts
§ 45-7-520 Applicable law
§ 45-7-521 Uniformity of application and construction
§ 45-7-522 Severability
§ 45-7-601 Short title
§ 45-7-602 Prudent investor rule
§ 45-7-603 Standard of care; portfolio strategy; risk and return objectives
§ 45-7-604 Diversification
§ 45-7-605 Duties at inception of trusteeship
§ 45-7-606 Loyalty
§ 45-7-607 Impartiality
§ 45-7-608 Investment costs
§ 45-7-609 Reviewing compliance
§ 45-7-610 Delegation of investment and management functions
§ 45-7-611 Language invoking standard
§ 45-7-612 Application to existing trusts

Terms Used In New Mexico Statutes > Chapter 45 > Article 7

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.
  • 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.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Donee: The recipient of a gift.
  • 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.
  • Executor: A male person named in a will to carry out the decedent
  • Fiduciary: A trustee, executor, or administrator.
  • Fraud: Intentional deception resulting in injury to another.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • 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.
  • Personal property: All property that is not real property.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
  • Trustee: A person or institution holding and administering property in trust.