A. An action against a trust director for breach of trust shall be commenced within the same limitation period provided for in Section 46A-10-1005 NMSA 1978 for an action for breach of trust against a trustee in a like position and under similar circumstances. B. A report or accounting has the same effect on the limitation period for an action against a trust director for breach of trust that the report or accounting would have under Section 46A-10-1005 NMSA 1978 in an action for breach of trust against a trustee in a like position and under similar circumstances. History: Laws 2018, ch. 63, § 13. ANNOTATIONSEffective dates. — Laws 2018, ch. 63, § 25 makes Laws 2018, ch. 63, § 13 effective January 1, 2019.
New Mexico Legal Code