{"data":{"id":"us-nm/46-7-17","jurisdiction":"us-nm","citation":"46-7-17","heading":"Other transfer by fiduciary.","body":"A. Subject to Subsection C of this section, a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to Section 10 [46-7-20 NMSA 1978] of the Uniform Transfers to Minors Act in the absence of a will or under a will or trust that does not contain an authorization to do so.\nB. Subject to Subsection C of this section, a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to Section 10 of that act.\nC. A transfer under Subsection A or B of this section may be made only if:\n(1) the personal representative, trustee, or conservator considers the transfer to be in the best interest of the minor;\n(2) the transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement or other governing instrument; and\n(3) the transfer is authorized by the court if it exceeds ten thousand dollars ($10,000) in value.","path":["Chapter 46 - Fiduciaries and Trusts","ARTICLE 7 Transfers to Minors"],"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":"f490c94d93e93d4736ab9ee1770ac3f684434cbc01432573dfc7604f8fbbcf6d","source_id":"us-nm","stale":false,"prev":"us-nm/46-7-16","next":"us-nm/46-7-18"},"notice":"GroundRules: Original legal text. Not legal advice."}