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New Mexico · Through 2024-04-26

46A-10-1010: Limitation on personal liability of trustee.

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Where this section sits in the code
  1. Chapter 46A - Uniform Trust Code
  2. ARTICLE 10 Liability of Trustees and Rights of Persons Dealing with Trustees

A. Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into in the trustee's fiduciary capacity in the course of administering the trust if the trustee in the contract disclosed the fiduciary capacity.

B. A trustee is personally liable for torts committed in the course of administering a trust, or for obligations arising from ownership or control of trust property, including liability for violation of environmental law, only if the trustee is personally at fault.

C. A claim based on a contract entered into by a trustee in the trustee's fiduciary capacity, on an obligation arising from ownership or control of trust property, or on a tort committed in the course of administering a trust, may be asserted in a judicial proceeding against the trustee in the trustee's fiduciary capacity, whether or not the trustee is personally liable for the claim.

Collected 2026-09-03T15:02:19Z. Source file · JSON

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