New Mexico Statutes 58-1-19. Identification and segregation of fiduciary assets;
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investment and deposit of cash.
Terms Used In New Mexico Statutes 58-1-19
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fiduciary: A trustee, executor, or administrator.
A state bank holding any asset as a fiduciary shall:
A. segregate all such assets from any other assets of the bank and from the assets of other trusts, except as may be permitted by the Uniform Common Trust Fund Act [46- 1-13 to 46-1-16 N.M. Stat. Ann.] or by other provisions of law or by the writing creating the trust; and
B. record such assets in a separate set of books maintained for fiduciary activities.