Statutes > New Mexico Statutes > Chapter 45 - Uniform Probate Code. > Article 7 - Trust Administration, 45-7-101 through 45-7-612. > Section 45-7-605 - Duties at inception of trusteeship.

Section 45-7-605 - Duties at inception of trusteeship.

45-7-605. Duties at inception of trusteeship.

Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements and other circumstances of the trust, and with the requirements of the Uniform Prudent Investor Act [45-7-601 NMSA 1978].