3B:15-17 - Investment by surrogate
3B:15-17.Ā Investment by surrogate
The court may direct that the moneys, or any part thereof, shall be investedĀ by the surrogate of the county, where the guardian has been or shall beĀ appointed, in United States Savings Bonds in the name of the minor, and in theĀ event of the maturity of the bonds during the period of minority, the court mayĀ order the surrogate to reinvest the proceeds in other United States SavingsĀ Bonds having later maturity dates.Ā The custody of the bonds shall be retainedĀ by the surrogate, and the moneys or bonds shall be subject to any order inĀ respect thereto as may be made by the court.Ā The moneys shall be paid out orĀ the bonds surrendered by the surrogate only by order of the court.
L.1981, c. 405, s. 3B:15-17, eff. May 1, 1982.
Ā
The court may direct that the moneys, or any part thereof, shall be investedĀ by the surrogate of the county, where the guardian has been or shall beĀ appointed, in United States Savings Bonds in the name of the minor, and in theĀ event of the maturity of the bonds during the period of minority, the court mayĀ order the surrogate to reinvest the proceeds in other United States SavingsĀ Bonds having later maturity dates.Ā The custody of the bonds shall be retainedĀ by the surrogate, and the moneys or bonds shall be subject to any order inĀ respect thereto as may be made by the court.Ā The moneys shall be paid out orĀ the bonds surrendered by the surrogate only by order of the court.
L.1981, c. 405, s. 3B:15-17, eff. May 1, 1982.
Ā