N.M. Stat. § 45-2-704

Current through 2024, ch. 69

Section 45-2-704 - Power of appointment; compliance with specific reference requirement

A powerholder's substantial compliance with a formal requirement of appointment imposed in a governing instrument by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if:

A. the powerholder knows of and intends to exercise the power; and

B. the powerholder's manner of attempted exercise does not impair a material purpose of the donor in imposing the requirement.

NMS § 45-2-704

Added by 2019, c. 221,s. 2, eff. 7/1/2019.