Section 45-3-913 - Distributions to trustee. - New-mexico Statutes

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Statutes > New-mexico > Chapter-45 > Article-3 > Section-45-3-913

45-3-913. Distributions to trustee.

A. Before distributing to a trustee, the personal representative may require that the trust be registered if the state in which it is to be administered provides for registration and that the trustee inform the beneficiaries as provided in Section 45-7-303 NMSA 1978.

B. If the trust instrument does not excuse the trustee from giving bond, the personal representative may petition the appropriate court to require that the trustee post bond if he apprehends that distribution might jeopardize the interests of persons who are not able to protect themselves, and he may withhold distribution until the court has acted.

C. No inference of negligence on the part of the personal representative shall be drawn from his failure to exercise the authority conferred by Subsections A and B of this section.

State Codes and Statutes

Statutes > New-mexico > Chapter-45 > Article-3 > Section-45-3-913

45-3-913. Distributions to trustee.

A. Before distributing to a trustee, the personal representative may require that the trust be registered if the state in which it is to be administered provides for registration and that the trustee inform the beneficiaries as provided in Section 45-7-303 NMSA 1978.

B. If the trust instrument does not excuse the trustee from giving bond, the personal representative may petition the appropriate court to require that the trustee post bond if he apprehends that distribution might jeopardize the interests of persons who are not able to protect themselves, and he may withhold distribution until the court has acted.

C. No inference of negligence on the part of the personal representative shall be drawn from his failure to exercise the authority conferred by Subsections A and B of this section.

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State Codes and Statutes

Statutes > New-mexico > Chapter-45 > Article-3 > Section-45-3-913

45-3-913. Distributions to trustee.

A. Before distributing to a trustee, the personal representative may require that the trust be registered if the state in which it is to be administered provides for registration and that the trustee inform the beneficiaries as provided in Section 45-7-303 NMSA 1978.

B. If the trust instrument does not excuse the trustee from giving bond, the personal representative may petition the appropriate court to require that the trustee post bond if he apprehends that distribution might jeopardize the interests of persons who are not able to protect themselves, and he may withhold distribution until the court has acted.

C. No inference of negligence on the part of the personal representative shall be drawn from his failure to exercise the authority conferred by Subsections A and B of this section.