New Mexico Statutes
§ 45-7-511 — Determination of incapacity; effect
A. The custodial trustee shall administer the custodial trust as for an incapacitated beneficiary if:
(1)the custodial trust was created under Section 45-7-506 NMSA 1978;
(2)the transferor has so directed in the instrument creating the custodial trust; or (3) the custodial trustee has determined that the beneficiary is incapacitated. B. A custodial trustee may determine that the beneficiary is incapacitated in reliance upon:
(1)previous direction or authority given by the beneficiary while not incapacitated, including direction or authority pursuant to a durable power of attorney;
(2)the certificate of the beneficiary's physician; or (3) other persuasive evidence. C. If a custodial trustee for an incapacitated beneficiary reasonably concludes that the beneficiary's incapacity has cease
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New Mexico § 45-7-511 (Determination of incapacity; effect) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1978 Comp., § 45-7-511, enacted by Laws 1992, ch. 66, § 58.
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