Section 46-1-1 - Definitions.
46-1-1. [Definitions.]
A. In this act [46-1-1 to 46-1-11 NMSA 1978] unless the context or subject matter otherwise requires:
"bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking;
"fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer or any other person acting in a fiduciary capacity for any person, trust or estate;
"person" includes a corporation, partnership or other association, or two or more persons having a joint or common interest;
"principal" includes any person to whom a fiduciary as such owes an obligation.
B. A thing is done "in good faith" within the meaning of this act, when it is in fact done honestly, whether it be done negligently or not.