Section 58-9-2 - Definitions.
58-9-2. Definitions.
As used in the Trust Company Act [58-9-1 NMSA 1978]:
A. "commissioner" or "director" means the director of the financial institutions division of the regulation and licensing department;
B. "trust business" means the holding out by a person, legal entity or corporation to the public at large by advertising, solicitation or other means that the person, legal entity or corporation is available to act as a fiduciary in this state or is accepting and undertaking to perform the duties of a fiduciary in the regular course of its business;
C. "trust company" means a corporation holding a certificate issued pursuant to the Trust Company Act;
D. "certificate" means a certificate of authority issued under the provisions of the Trust Company Act to engage in trust business;
E. "fiduciary" means executor, administrator, conservator or trustee; and
F. "nonprofit corporation" means a nonprofit corporation as defined in the Nonprofit Corporation Act [53-8-1 NMSA 1978] that is funded by or contracts with a federal, state, county or other governmental entity to provide trust services.