New Mexico Statutes
§ 45-7-509 — General powers of custodial trustee
New Mexico § 45-7-509
This text of New Mexico § 45-7-509 (General powers of custodial trustee) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.M. Stat. Ann. § 45-7-509 (2026).
Text
A.A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property that an unmarried adult owner has over individually owned property, but a custodial trustee may exercise those rights and powers in a fudiciary [fiduciary] capacity only.
B.This section does not relieve a custodial trustee from liability for a violation of Section 45-7-508 NMSA 1978.
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Legislative History
1978 Comp., § 45-7-509, enacted by Laws 1992, ch. 66, § 56.
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; transferCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 45-7-509, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/45/45-7-509.