New Mexico Statutes 46-4-5. Trust purposes
Current as of: 2024 | Check for updates
|
Other versions
The trusts created for the benefit of the state, its municipalities or political subdivisions or other entities, to be acceptable as set forth in Section 2 [46-4-2 N.M. Stat. Ann.] of this enactment, must have as the purpose of the trust the furtherance or the providing of funds for the furtherance of some proper and lawful function or duty of the beneficiary.
Terms Used In New Mexico Statutes 46-4-5
- 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