18A:20-16 - Investment of proceeds under direction of superior court
18A:20-16.Ā Investment of proceeds under direction of superior court
The moneys arising from any such sale shall be invested, under the directionĀ of the superior court, by and in the name of the board of education to whom theĀ real estate so sold shall have been devised and shall be held by it in trustĀ for the uses and purposes set forth in the will. The court may from time toĀ time make such further orders and directions in the premises as shall conserveĀ the purposes of the trust and be deemed necessary to carry out the will of theĀ testator.
Ā
L.1967, c.271.
The moneys arising from any such sale shall be invested, under the directionĀ of the superior court, by and in the name of the board of education to whom theĀ real estate so sold shall have been devised and shall be held by it in trustĀ for the uses and purposes set forth in the will. The court may from time toĀ time make such further orders and directions in the premises as shall conserveĀ the purposes of the trust and be deemed necessary to carry out the will of theĀ testator.
Ā
L.1967, c.271.