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New Mexico Statutes Annotated 1978

3A

Uniform Principal and Income

State of New Mexico

46-3A-101Short title 46-3A-102Definitions 46-3A-103Fiduciary duties; general principles 46-3A-104Trustee's power to adjust 46-3A-105Conversion to total return trust 46-3A-106Administration of total return trust 46-3A-107Determination of matters in administration 46-3A-108Distribution of total return trust 46-3A-109Restrictions on distributions 46-3A-110Limitations on conversion 46-3A-111Release 46-3A-112Remedies 46-3A-113Applicability 46-3A-201Determination and distribution of net income 46-3A-202Distribution to residuary and remainder beneficiaries 46-3A-301When right to income begins and ends 46-3A-302Apportionment of receipts and disbursements when decedent dies or income interest begins 46-3A-303Apportionment when income interest ends 46-3A-401Character of receipts 46-3A-402Distribution from trust or estate 46-3A-403Business and other activities conducted by trustee 46-3A-404Principal receipts 46-3A-405Rental property 46-3A-406Obligation to pay money 46-3A-407Insurance policies and similar contracts 46-3A-408Insubstantial allocations not required 46-3A-409Deferred compensation, annuities and similar payments 46-3A-410Liquidating asset 46-3A-411Minerals, water and other natural resources 46-3A-412Timber 46-3A-413Property not productive of income 46-3A-414Derivatives and options 46-3A-415Asset-backed securities 46-3A-501Disbursements from income 46-3A-502Disbursements from principal 46-3A-503Transfers from income to principal for depreciation 46-3A-504Transfers from income to reimburse principal 46-3A-505Income taxes 46-3A-506Adjustments between principal and income because of taxes 46-3A-601Uniformity of application and construction 46-3A-602Severability clause 46-3A-603Application of the Uniform Principal and Income Act to existing trusts and estates