{"data":{"id":"us-nm/46-3a-113","jurisdiction":"us-nm","citation":"46-3A-113","heading":"Applicability.","body":"A. Sections 46-3A-105 through 46-3A-113 NMSA 1978 shall apply to trusts in existence on July 1, 2005 and to trusts created on or after that date.\nB. Sections 46-3A-105 through 46-3A-113 NMSA 1978 shall be construed to apply to the administration of a trust that is administered in New Mexico under New Mexico law or that is governed by New Mexico law with respect to the meaning and effect of its terms unless:\n(1) the trust is a trust described in Section 170(f)(2)(B), 664(d), 2702(a)(3) or 2702(b) of the federal Internal Revenue Code of 1986;\n(2) the governing instrument expressly prohibits the use of Sections 46-3A-105 through 46-3A-113 NMSA 1978 by specific reference to one or more provisions of those sections; or\n(3) the terms of a trust in existence on July 1, 2005 incorporate provisions that operate as a total return trust. The trustee or a beneficiary of such a trust may adopt provisions in Sections 46-3A-105 through 46-3A-113 NMSA 1978 that do not contradict provisions in the governing instrument.","path":["Chapter 46 - Fiduciaries and Trusts","ARTICLE 3A Uniform Principal and Income"],"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":"aa8968fffb579acae2bd27bd7ce261784fab71eae91a66bee8b420caaf1f1dae","source_id":"us-nm","stale":false,"prev":"us-nm/46-3a-112","next":"us-nm/46-3a-201"},"notice":"GroundRules: Original legal text. Not legal advice."}