New Mexico § 6-8A-4 Accounts

New Mexico Statutes

§ 6-8A-4 — Accounts

New Mexico·Ch. 6 Public Finances·Art. 8A Accounts for Persons with Disabilities

A. An account owner may:

(1)establish an account with a financial organization or fiduciary;

(2)close the account and establish an account with another financial organization or fiduciary, no more than twice in any tax year; and (3) change the owner of an account to a family member of a designated beneficiary; provided that the family member is an eligible person. B. More than one person may contribute to an account. C. A person shall not be the designated beneficiary of more than one account.

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A. An account owner may: (1) establish an account with a financial organization or fiduciary; (2) close the account and establish an account with another financial organization or fiduciary, no more than twice in any tax year; and (3) change the owner of an account to a family member of a designated beneficiary; provided that the family member is an eligible person. B. More than one person may contribute to an account. C. A person shall not be the designated beneficiary of more than one account.

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