A. Notice to a person who may represent and bind another person pursuant to the provisions of N.M. Stat. Ann. Chapter 45 has the same effect as if notice were given directly to the other person.

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Terms Used In New Mexico Statutes 45-1-403.1

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC

B. The consent of a person who may represent and bind another person pursuant to the provisions of N.M. Stat. Ann. Chapter 45 is binding on the person represented unless the person represented objects to the representation before the consent would otherwise have become effective.

C. Except as otherwise provided in Sections 46A-4-411 and 46A-6-602 N.M. Stat. Ann., a person who, pursuant to the provisions of N.M. Stat. Ann. Chapter 45, may represent a settlor who lacks capacity, may receive notice and give a binding consent on the settlor’s behalf.

D. A settlor shall not represent or bind a beneficiary pursuant to the provisions of N.M. Stat. Ann. Chapter 45 with respect to the termination or modification of a trust under Subsection A of Section 46A-4-411 N.M. Stat. Ann..

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