Unless the terms of a trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding the following matters: A. acceptance under Section 46A-7-701 NMSA 1978; B. giving of bond to secure performance under Section 46A-7-702 NMSA 1978; C. reasonable compensation under Section 46A-7-708 NMSA 1978; D. resignation under Section 46A-7-705 NMSA 1978; E. removal under Section 46A-7-706 NMSA 1978; and F. vacancy and appointment of successor under Section 46A-7-704 NMSA 1978. History: Laws 2018, ch. 63, § 16. ANNOTATIONSEffective dates. — Laws 2018, ch. 63, § 25 makes Laws 2018, ch. 63, § 16 effective January 1, 2019.
New Mexico Legal Code