New Jersey Statutes 46:38A-46. Delivery of custodial property to successor custodian
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Terms Used In New Jersey Statutes 46:38A-46
- Court: means the Superior Court. See New Jersey Statutes 46:38A-2
- Custodial property: means any interest in property transferred to a custodian under this chapter and the income from and proceeds of that interest in property. See New Jersey Statutes 46:38A-2
- Custodian: means a person so designated under R. See New Jersey Statutes 46:38A-2
- Legal representative: means an individual's personal representative or guardian. See New Jersey Statutes 46:38A-2
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
A custodian who declines to serve under R.S. 46:38A-42 or resigns under R.S. 46:38A-44, or the legal representative of a deceased or incapacitated custodian, as soon as practicable, shall deliver the custodial property and records into the possession and control of the successor custodian. The successor custodian may apply to the court to enforce the obligation to deliver custodial property and records and becomes responsible for each item as received.
L. 1987, c. 18, s. 1.