§ 46-12-103 — Scope

A. Except as otherwise provided in Subsections B and C of this section, the Uniform Trust Decanting Act applies to an express trust that is irrevocable or revocable by the settlor only with the consent of the trustee or a person holding an adverse interest. B. The Uniform Trust Decanting Act does not apply to a trust held solely for charitable purposes. C. Subject to Section 1-115 [46-12-115 NMSA 1978] of the Uniform Trust Decanting Act, a trust instrument may restrict or prohibit exercise of the decanting power. D. The Uniform Trust Decanting Act does not limit the power of a trustee, powerholder or other person to distribute or appoint property in further trust or to modify a trust under the trust instrument, New Mexico law other than the Uniform Trust Decanting Act, common law, a court order or a nonjudicial-settlement agreement. E. The Uniform Trust Decanting Act does not affect the ability of a settlor to provide in a trust instrument for the distribution of the trust property or appointment in further trust of the trust property or for modification of the trust instrument.

Legislative History

Laws 2016, ch. 72, § 1-103.