New Mexico § 46-12-116 - Change in compensation
Full text of New Mexico New Mexico Statutes Annotated § 46-12-116 — Change in compensation, with citation guidance and answers to common questions.
§ 46-12-116. Change in compensation
A. If a first-trust instrument specifies an authorized fiduciary's compensation, the
fiduciary shall not exercise the decanting power to increase the fiduciary's compensation
above the specified compensation unless: (1) all qualified beneficiaries of the second trust consent to the increase in a signed
record; or (2) the increase is approved by the court. B. If a first-trust instrument does not specify an authorized fiduciary's compensation,
the fiduciary shall not exercise the decanting power to increase the fiduciary's compensation
above the compensation permitted by the Uniform Trust Code unless: (1) all qualified beneficiaries of the second trust consent to the increase in a signed
record; or (2) the increase is approved by the court. C. A change in an authorized fiduciary's compensation that is incidental to other
changes made by the exercise of the decanting power is not an increase in the fiduciary's
compensation for purposes of Subsections A and B of this section.
Frequently Asked Questions About New Mexico § 46-12-116
What does New Mexico Statutes Annotated § 46-12-116 cover?
Section 46-12-116 ("Change in compensation") 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 § 46-12-116?
A common citation format is "New Mexico Statutes Annotated § 46-12-116" (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 § 46-12-116 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.