New Jersey Statutes 3B:15-14. Additional bond upon withdrawals
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Terms Used In New Jersey Statutes 3B:15-14
- Estate: means all of the property of a decedent, minor or incapacitated individual, trust or other person whose affairs are subject to this title as the property is originally constituted and as it exists from time to time during administration. See New Jersey Statutes 3B:1-1
A fiduciary shall not be permitted by the court to collect or receive the principal of securities on deposit or to withdraw a deposit pursuant to N.J.S. 3B:15-13 unless an additional bond has been given by him, or unless there is proof that the estate or fund has been so reduced by payments or otherwise, that the amount of the bond originally given will be sufficient in amount to secure the estate or fund.
L.1981, c. 405, s. 3B:15-14, eff. May 1, 1982.