New Mexico Statutes
§ 45-2-1111 — Disclaimer of power held in fiduciary capacity
A.If a fiduciary disclaims a power held in a fiduciary capacity that has not been exercised, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.
B.If a fiduciary disclaims a power held in a fiduciary capacity that has been exercised, the disclaimer takes effect immediately after the last exercise of the power.
C.A disclaimer under this section is effective as to another fiduciary if the disclaimer so provides and the fiduciary disclaiming has the authority to bind the estate, trust or other person for whom the fiduciary is acting.
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New Mexico § 45-2-1111 (Disclaimer of power held in fiduciary capacity) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Laws 2001, ch. 290, § 11; 1978 Comp., § 46-10-11 recompiled as § 45-2-1111
Nearby Sections
15
§ 45-1-101
Short title§ 45-1-102
Rule of construction; purposes of act§ 45-1-104
Severability§ 45-1-106
Effect of fraud and evasion§ 45-1-107
Evidence of death or status§ 45-1-108
Acts by holder of general power§ 45-1-109
Security interests not affected§ 45-1-201
Definitions§ 45-1-301
Application§ 45-1-302.1
Concurrent jurisdiction§ 45-1-303
Venue; multiple proceedings; transfer