New Mexico § 45-5-103 - Facility of payment or delivery
Full text of New Mexico New Mexico Statutes Annotated § 45-5-103 — Facility of payment or delivery, with citation guidance and answers to common questions.
§ 45-5-103. Facility of payment or delivery
A. A person under a duty to pay or deliver money or personal property to a minor may
perform this duty, in amounts not exceeding ten thousand dollars ($10,000) per year,
by paying or delivering the money or property to: (1) a person having the care and custody of the minor and with whom the minor resides; (2) a guardian of the minor; (3) a financial institution for deposit in a federally insured savings account in
the sole name of the minor and giving notice of the deposit to the minor; or (4) a custodian for the minor pursuant to the Uniform Transfers to Minors Act. B. This section does not apply if the person making payment or delivery has actual
knowledge that a conservator has been appointed or proceedings for appointment of
a conservator of the estate of the minor are pending. The persons, other than the minor or any financial institution under Paragraph (4)
of Subsection A of this section, receiving money or property for a minor are obligated
to apply the money to the support and education of the minor but shall not pay themselves
except by way of reimbursement for out-of-pocket expenses for goods and services necessary
for the minor's support. Any excess sums shall be preserved for future support of the minor, and any balance
not so used and any property received for the minor shall be turned over to the minor
when the minor ceases to be a minor. Persons who pay or deliver in accordance with provisions of this section are not
responsible for the proper application of such payments.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 45-5-103
What does New Mexico Statutes Annotated § 45-5-103 cover?
Section 45-5-103 ("Facility of payment or delivery") 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 § 45-5-103?
A common citation format is "New Mexico Statutes Annotated § 45-5-103" (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 § 45-5-103 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.