Section 46-14-3 - Application; principal place of administrationA. The Uniform Directed Trust Act applies to a trust, whenever created, that has its principal place of administration in New Mexico, subject to the following rules: (1) if the trust was created before January 1, 2019, that act applies only to a decision or action occurring on or after that date; and(2) if the principal place of administration of the trust is changed to New Mexico on or after January 1, 2019, that act applies only to a decision or action occurring on or after the date of the change.B. Without precluding other means to establish a sufficient connection with the designated jurisdiction in a directed trust, the terms of the trust that designate the principal place of administration of the trust are valid and controlling if: (1) a trustee's principal place of business is located in, or a trustee is a resident of, the designated jurisdiction;(2) a trust director's principal place of business is located in, or a trust director is a resident of, the designated jurisdiction; or(3) all or part of the administration occurs in the designated jurisdiction.Added by 2018, c. 63,s. 3, eff. 1/1/2019.