2023 New Mexico Statutes › Chapter 46A - Uniform Trust Code › Article 1 - General Provisions and Definitions › Section 46A-1-105 - Default and mandatory rules.

A. Except as otherwise provided in the terms of the trust, the Uniform Trust Code governs the duties and powers of a trustee, relations among trustees and the rights and interests of a beneficiary.
B. The terms of a trust prevail over any provision of the Uniform Trust Code except:
(1) the requirements for creating a trust;
(2) subject to Sections 9, 11 and 12 [46-14-9, 46-14-11 and 46-14-12] of the Uniform Directed Trust Act, the duty of a trustee to act in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries;
(3) the requirement that a trust and its terms be for the benefit of its beneficiaries and that the trust have a purpose that is lawful, not contrary to public policy and possible to achieve;
(4) the power of the court to modify or terminate a trust under Sections 46A-4-410 through 46A-4-416 NMSA 1978;
(5) the effect of a spendthrift provision and the rights of certain creditors and assignees to reach a trust as provided in Chapter 46A, Article 5 NMSA 1978;
(6) the power of the court under Section 46A-7-702 NMSA 1978 to require, dispense with or modify or terminate a bond;
(7) the power of the court under Subsection B of Section 46A-7-708 NMSA 1978 to adjust a trustee's compensation specified in the terms of the trust that is unreasonably low or high;
(8) the duty under Paragraphs (2) and (3) of Subsection B of Section 46A-8-813 NMSA 1978 to notify qualified beneficiaries of an irrevocable trust who have attained twenty-five years of age of the existence of the trust, of the identity of the trustee and of their right to request reports of the trustee;
(9) except as otherwise provided in Subsection F of Section 46A-8-813 NMSA 1978, the duty under Subsection A of Section 46A-8-813 NMSA 1978 to respond to the request of a qualified beneficiary of an irrevocable trust for a trustee's reports and other information reasonably related to the administration of a trust;
(10) the effect of an exculpatory term under Section 46A-10-1008 NMSA 1978;
(11) the rights under Sections 46A-10-1010 through 46A-10-1013 NMSA 1978 of a person other than a trustee or beneficiary;
(12) periods of limitation for commencing a judicial proceeding; provided, however, any such period may be increased;
(13) the power of the court to take such action and exercise such jurisdiction as may be necessary in the interests of justice; and
(14) the subject-matter jurisdiction of the court and venue for commencing a proceeding as provided in Sections 46A-2-203 and 46A-2-204 NMSA 1978.
History:
Laws 2003, ch. 122, § 1-105; 2007, ch. 128, § 4; 2018, ch. 63, § 21.
ANNOTATIONS
The 2018 amendment,
effective January 1, 2019, referenced certain provisions of the Uniform Directed Trust Act relating to legal duties of a trustee that prevail over terms of a trust; and in Paragraph B(2), added "subject to Sections 9, 11, and 12 of the Uniform Directed Trust Act".
The 2007 amendment,
effective July 1, 2007, provided that the Uniform Trust Code prevails over the trust with regard to the interests of the beneficiaries, changed the age of qualified beneficiaries entitled to notice to those who have attained the age of twenty-five, and permitted periods of limitations for commencing judicial proceedings to be increased.
Law reviews.
— For article, "The New Mexico Uniform Trust Code," see 34 N.M.L. Rev. 1 (2004).