{"data":{"id":"us-nm/46a-1-111","jurisdiction":"us-nm","citation":"46A-1-111","heading":"Nonjudicial settlement agreements.","body":"A. For purposes of this section, \"interested persons\" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.\nB. Except as otherwise provided in Subsection C of this section, interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust.\nC. A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by the court under the Uniform Trust Code [46A-1-101 to 46A-11-1104 NMSA 1978] or other applicable law.\nD. Matters that may be resolved by a nonjudicial settlement agreement include:\n(1) the interpretation or construction of the terms of the trust;\n(2) the approval of a trustee's report or accounting;\n(3) direction to a trustee to refrain from performing a particular act or the grant to a trustee of any necessary or desirable power;\n(4) the resignation or appointment of a trustee and the determination of a trustee's compensation;\n(5) transfer of a trust's principal place of administration; and\n(6) liability of a trustee for an action relating to the trust.\nE. Any interested person may request the court to approve a nonjudicial settlement agreement to determine whether the representation as provided in Article 3 [46A-3-301 to 46A-3-305 NMSA 1978] of the Uniform Trust Code was adequate and to determine whether the agreement contains terms and conditions the court could have properly approved.","path":["Chapter 46A - Uniform Trust Code","ARTICLE 1 General Provisions and Definitions"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18548/index.do","current_through":"2024-04-26","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"d8b92e5aa7810f76350bc90a968b389063c4ab9f1bcf266439b6de78300b0872","source_id":"us-nm","stale":false,"prev":"us-nm/46a-1-110","next":"us-nm/46a-1-112"},"notice":"GroundRules: Original legal text. Not legal advice."}