New Mexico § 45-3-603 - Bond requirements
Full text of New Mexico New Mexico Statutes Annotated § 45-3-603 — Bond requirements, with citation guidance and answers to common questions.
§ 45-3-603. Bond requirements
A. No bond is required of a personal representative appointed in informal proceedings,
except: (1) upon the appointment of a special administrator; (2) when a personal representative is appointed to administer an estate under a will
containing an express requirement of bond; or (3) when bond is required under Section 3-605. B. Bond may be required by court order at the time of appointment of a personal representative
appointed in any formal proceeding, except that bond is not required of a personal
representative appointed in formal proceedings if the will relieves the personal representative
of bond, unless bond has been requested by an interested person in accordance with
Section 3-605 and the district court so orders. Bond required by any will may be dispensed with in formal proceedings upon determination
by the district court that it is not necessary. C. No bond is required of any personal representative who, pursuant to statute, is
exempt or has deposited cash or collateral with an agency of New Mexico to secure
performance of his duties.
Frequently Asked Questions About New Mexico § 45-3-603
What does New Mexico Statutes Annotated § 45-3-603 cover?
Section 45-3-603 ("Bond requirements") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Mexico § 45-3-603?
A common citation format is "New Mexico Statutes Annotated § 45-3-603" (New Mexico). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 45-3-603 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Mexico.