New Mexico § 46-12-118 Removal or replacement of authorized fiduciary

New Mexico Statutes

§ 46-12-118 — Removal or replacement of authorized fiduciary

New Mexico § 46-12-118

Ch. 46Fiduciaries and Trusts

Art. 12Uniform Trust Decanting

This text of New Mexico § 46-12-118 (Removal or replacement of authorized fiduciary) 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. § 46-12-118 (2026).

Text

An authorized fiduciary shall not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless: A. the person holding the power consents to the modification in a signed record and the modification applies only to the person; B. the person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or C. the court approves the modification and the modification grants a substantially similar power to another person.

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An authorized fiduciary shall not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless: A. the person holding the power consents to the modification in a signed record and the modification applies only to the person; B. the person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or C. the court approves the modification and the modification grants a substantially similar power to another person.