New Mexico Statutes
§ 45-7-610 — Delegation of investment and management functions
New Mexico § 45-7-610
This text of New Mexico § 45-7-610 (Delegation of investment and management functions) 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. § 45-7-610 (2026).
Text
A. A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill and caution in:
(1)selecting an agent;
(2)establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and (3) periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the delegation. B. In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation. C. A trustee who complies with the requirements of Subsection A of this section is not liable to the beneficiaries or to the trust for the decisions or actio
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Legislative History
1978 Comp., § 45-7-610, enacted by Laws 1995, ch. 210, § 91.
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 § 45-7-610, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/45/45-7-610.