New Mexico Statutes
§ 58-1-19 — Identification and segregation of fiduciary assets;
investment and deposit of cash. A state bank holding any asset as a fiduciary shall: A. segregate all such assets from any other assets of the bank and from the assets of other trusts, except as may be permitted by the Uniform Common Trust Fund Act [46- 1-13 to 46-1-16 NMSA 1978] or by other provisions of law or by the writing creating the trust; and B. record such assets in a separate set of books maintained for fiduciary activities.
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Legislative History
1953 Comp., § 48-22-19, enacted by Laws 1963, ch. 305, § 19.
Nearby Sections
15
§ 58-1-1
Short title§ 58-1-11
Access by fiduciaries§ 58-1-13
Lease to minor§ 58-1-14
Search procedure on death§ 58-1-17
Qualification and fiduciary powers§ 58-1-18
Fiduciary bond or oath excused§ 58-1-2
Definitions of banks§ 58-1-2.1
Prohibition§ 58-1-20
Reserves against deposits§ 58-1-21
Loans