Independent Trust Companies

Trust Companies

No person, legal entity or corporation shall engage in the “trust business” without first obtaining a certificate from the director; provided, however, that a bank having its principal office in this state or an out-of-state bank not having an established office in this state otherwise authorized under state or federal laws to engage in the trust business or a savings and loan association having its principal office in this state acting as trustee or custodian pursuant to Section 58-10-35 NMSA 1978 may engage in trust business to the extent permitted in that section without obtaining a certificate under the Trust Company Act.  Note that other exemptions are found in Section 58-9-3 NMSA 1978.

A trust company shall conduct such business in compliance with all state and federal laws, and all rules promulgated pursuant to those laws, including the Trust Company Act [Chapter 58-9-1 to 58-9-14 NMSA 1978], the Uniform Probate Code [Chapter 45 NMSA 1978], the Uniform Prudent Investor Act [45-7-601 to 45-7-612 NMSA 1978], and the Uniform Trust Code [Chapter 46A NMSA 1978].

“Trust business” means the holding out by a person, legal entity, or corporation to the public at large by advertising, solicitation, or other means that the person, legal entity, or corporation is available to act as a fiduciary in this state or is accepting and undertaking to perform the duties of a fiduciary in the regular course of its business.

The following independent trust companies currently have a Certificate of Authority to engage in trust business in the State of New Mexico:

Name of Company
Headquarters
Certificate Number
Albuquerque
34
Albuquerque
33
ARCA (limited market)
Albuquerque
32
Santa Fe
18
Albuquerque
36
Albuquerque
29
Albuquerque
30
Taos
12
Albuquerque
28
Albuquerque
31
Albuquerque
23

Additionally, trust departments may be located in the following New Mexico-state chartered banks:

If you have questions above any of the above entities, please contact Bank & Trust Industry Manager Michael Saiz at michael.saiz@state.nm.us.

Please click here if you would prefer to have this list on letterhead.

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