{"data":{"id":"us-nm/46-14-5","jurisdiction":"us-nm","citation":"46-14-5","heading":"Exclusions.","body":"A. As used in this section, \"power of appointment\" means a power that enables a person acting in a nonfiduciary capacity to designate a recipient of an ownership interest in, or another power of appointment over, trust property.\nB. The Uniform Directed Trust Act does not apply to a:\n(1) power of appointment;\n(2) power to appoint or remove a trustee or trust director;\n(3) power of a settlor over a trust to the extent the settlor has a power to revoke the trust;\n(4) power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of:\n(a) the beneficiary; or\n(b) another beneficiary represented by the beneficiary under Sections 46A-3-301 through 46A-3-305 NMSA 1978 with respect to the exercise or nonexercise of the power; or\n(5) power over a trust if:\n(a) the terms of the trust provide that the power is held in a nonfiduciary capacity; and\n(b) the power must be held in a nonfiduciary capacity to achieve the settlor's tax objectives under the United States Internal Revenue Code of 1986, as amended, and regulations issued thereunder, as amended.\nC. Unless the terms of a trust provide otherwise, a power granted to a person to designate a recipient of an ownership interest in, or power of appointment over, trust property that is exercisable while the person is not serving as a trustee is a power of appointment and not a power of direction.","path":["Chapter 46 - Fiduciaries and Trusts","ARTICLE 14 Uniform Directed Trust"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18547/index.do","current_through":"2024-04-26","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"70972c6766719da910396c63f66b303950578adae79795ce0093ae66e7f3d543","source_id":"us-nm","stale":false,"prev":"us-nm/46-14-4","next":"us-nm/46-14-6"},"notice":"GroundRules: Original legal text. Not legal advice."}