N.M. Stat. » Chapter 46 — Fiduciaries and Trusts
New Mexico Statutes

N.M. Stat. § 46-7-12 (2026)

Definitions

✓ current as of May 2026
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[As used in the Uniform Transfers to Minors Act [46-7-11 to 46-7-34 NMSA 1978]:]

A. "adult" means an individual who has attained the age of twenty-one years;

B. "benefit plan" means an employer's plan for the benefit of an employee or partner;

C. "broker" means a person lawfully engaged in the business of effecting transactions in securities or commodities for the person's own account or for the account of others; D. "conservator" means a person appointed or qualified by a court to act as general, limited, or temporary guardian of a minor's property or a person legally authorized to perform substantially the same functions;

E. "court" means the district court;

F. "custodial property" means:

(1) any interest in property transferred to a custodian under the Uniform Transfers to Minors Act; and

(2) the income from and proceeds of that interest in property;

G. "custodian" means a person so designated under Section 10 [46-7-20 NMSA 1978] of the Uniform Transfers to Minors Act or a successor or substitute custodian designated under Section 19 [46-7-29 NMSA 1978] of that act;

H. "financial institution" means a bank, trust company, savings institution or credit union chartered and supervised under state or federal law;

I. "legal representative" means an individual's personal representative or conservator;

J. "member of the minor's family" means the minor's parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt, whether of the whole or half blood or by adoption;

K. "minor" means an individual who has not attained the age of twenty-one years;

L. "person" means an individual, corporation, organization or other legal entity;

M. "personal representative" means an executor, administrator, successor, personal representative or special administrator of a decendent's [decedent's] estate or a person legally authorized to perform substantally [substantially] the same functions;

N. "state" includes any state of the United States, the District of Columbia, the commonwealth of Puerto Rico and any territory or possession subject to the legislative authority of the United States;

O. "transfer" means a transaction that creates custodial property under Section 10 of the Uniform Transfers to Minors Act;

P. "transferor" means a person who makes a transfer under that act; and

Q. "trust company" means a financial institution, corporation, or other legal entity authorized to exercise general trust powers. History: Laws 1989, ch. 357, § 2.

ANNOTATIONS

Bracketed material. — As this act appears in the Session Laws, the phrase "As used in the Uniform Transfers to Minors Act:" inadvertently appeared at the end of 46-7-11 NMSA 1978. For purposes of clarity, the compiler has transferred that phrase, in brackets, to the beginning of this section.

The bracketed material in Subsection M was inserted by the compiler and is not part of the law.

Notes of Decisions
Cited in 2 cases, 2000–2002 · leading case: Rauscher, Pierce, Refsnes, Inc. v. Taxation & Revenue Dep't, 46 P.3d 687 (N.M. 2002).
Sort: Relevance Newest Treatment
Rauscher, Pierce, Refsnes, Inc. v. Taxation & Revenue Dep't, 46 P.3d 687 (N.M. 2002). · cites it 2× “See NMSA 1978, § 58-13B-2(B) (1999) (New Mexico Securities Act of 1986); 1987 N.”
Rauscher, Pierce, Refsnes, Inc. v. Taxation & Revenue Dep't, 9 P.3d 648 (N.M. Ct. App. 2000). · cites it 2× “” Finally, the Uniform Transfer to Minors Act, NMSA 1978, § 46-7-12(0) (1989), defines “ ‘broker’ ” as “a person lawfully engaged in the business of effecting transactions in securities or commodities for the person’s own account or for the account of others.”
N.M. Stat. § 46-7-12(0): 1 case
Rauscher, Pierce, Refsnes, Inc. v. Taxation & Revenue Dep't, 9 P.3d 648 (N.M. Ct. App. 2000). “” Finally, the Uniform Transfer to Minors Act, NMSA 1978, § 46-7-12(0) (1989), defines “ ‘broker’ ” as “a person lawfully engaged in the business of effecting transactions in securities or commodities for the person’s own account or for the account of others.”
N.M. Stat. § 46-7-12(C): 1 case
Rauscher, Pierce, Refsnes, Inc. v. Taxation & Revenue Dep't, 46 P.3d 687 (N.M. 2002). “See NMSA 1978, § 58-13B-2(B) (1999) (New Mexico Securities Act of 1986); 1987 N.”
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