A. A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill and caution in: (1) selecting an agent; (2) establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and (3) periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the delegation. B. In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation. C. A trustee who complies with Subsection A of this section is not liable to the beneficiaries or to the trust for an action of the agent to whom the function was delegated. D. By accepting a delegation of powers or duties from the trustee of a trust that is subject to the law of this state, an agent submits to the jurisdiction of the courts of this state. History: Laws 2003, ch. 122, § 8-807. ANNOTATIONSEffective dates. — Laws 2003, ch. 122, § 11-1106 made the act effective July 1, 2003.
New Mexico Legal Code