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N.J. Stat. Ann. § 3B:31-47

Trustee's bond

Known as the Uniform Trust Code

The act spans §§ 3B:31-1 to 3B:31-9 (84 sections).

L.2015, c.276, s.1.

Trustee's Bond.

a. A trustee shall give bond to secure performance of the trustee's duties as prescribed by N.J.S.3B:15-1 et seq. if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with that requirement.

b. Unless otherwise directed by the court, the cost of the bond is an expense of the trust.

Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.