Statutes > New Mexico Statutes > Chapter 46 - Fiduciaries and Trusts. > Article 7 - Transfers to Minors, 46-7-1 through 46-7-34. > Section 46-7-24 - Powers of custodian.

Section 46-7-24 - Powers of custodian.

46-7-24. Powers of custodian.

A.     A custodian, acting in a custodial capacity, has all the rights, powers and authority over custodial property that unmarried adult owners have over their own property, but a custodian may exercise those rights, powers and authority in that capacity only.   

B.     This section does not relieve a custodian from liability for breach of Section 13 [46-7-23 NMSA 1978] of the Uniform Transfers to Minors Act.