A. A trustee may resign:

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Terms Used In New Mexico Statutes 46A-7-705

  • Trustee: A person or institution holding and administering property in trust.

(1)     upon at least thirty days’ notice to the qualified beneficiaries, the settlor, if living, and all co-trustees; or

(2)     with the approval of the court.

B. In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.

C. Any liability of a resigning trustee or of any sureties on the trustee’s bond for acts or omissions of the trustee is not discharged or affected by the trustee’s resignation.