A. Unless the terms of a trust provide otherwise: (1) a trustee does not have a duty to: (a) monitor a trust director; or (b) inform or give advice to a settlor, beneficiary, trustee or trust director concerning an instance in which the trustee might have acted differently than the director; and (2) by taking an action described in Paragraph (1) of this subsection, a trustee does not assume the duty excluded by that paragraph. B. Unless the terms of a trust provide otherwise: (1) a trust director does not have a duty to: (a) monitor a trustee or another trust director; or (b) inform or give advice to a settlor, beneficiary, trustee or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and (2) by taking an action described in Paragraph (1) of this subsection, a trust director does not assume the duty excluded by that paragraph. History: Laws 2018, ch. 63, § 11. ANNOTATIONSEffective dates. — Laws 2018, ch. 63, § 25 makes Laws 2018, ch. 63, § 11 effective January 1, 2019.
New Mexico Legal Code