New Jersey Statutes 2A:14-16. 20 years; actions on bonds of fiduciaries
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Terms Used In New Jersey Statutes 2A:14-16
- Executor: A male person named in a will to carry out the decedent
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Trustee: A person or institution holding and administering property in trust.
No action at law brought upon a bond given by any executor, administrator, guardian, trustee, receiver or assignee under any law relating to insolvent debtors or insolvent estates, for the faithful performance of any or all of the duties of any of such fiduciaries, shall in any way operate against or affect the sureties named in and bound by the bond, unless the same is commenced within 20 years next after the date of the bond.
L.1951 (1st SS), c.344.