N.M. Stat. § 46-11-306

Current through 2024, ch. 69
Section 46-11-306 - Appointment to deceased appointee or permissible appointee's descendant
A. Subject to Sections 45-2-603 and 45-2-707 NMSA 1978, an appointment to a deceased appointee is ineffective.
B. Unless the terms of the instrument creating a power of appointment manifest a contrary intent, a powerholder of a nongeneral power may exercise the power in favor of, or create a new power of appointment in, a descendant of a deceased permissible appointee whether or not the descendant is described by the donor as a permissible appointee.

NMS § 46-11-306

Laws 2016, ch. 69, § 306.
Added by 2016, c. 69,s. 306, eff. 1/1/2017.