3B:11-7 - Powers of new, substituted or additional trustees - New-jersey Statutes

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3B:11-7. Powers of new, substituted or additional trustees
A duly appointed new, substituted or additional trustee shall have the same power and discretion with respect to the investment, management, conversion, sale or other disposition of the trust estate, whether real or personal, as was given to or vested in the original trustee or trustees named in or appointed by the will or other instrument creating or continuing the trust, notwithstanding the power or discretion may be directed by the will or other instrument to be exercised at the discretion of the original trustee or trustees unless the power or discretion of the original trustee or trustees is expressly prohibited by the will or other instrument to any new, substituted or additional trustee.

L.1981, c. 405, s. 3B:11-7, eff. May 1, 1982.

State Codes and Statutes

Statutes > New-jersey > Title-3b > Section-3b-11 > 3b-11-7

3B:11-7. Powers of new, substituted or additional trustees
A duly appointed new, substituted or additional trustee shall have the same power and discretion with respect to the investment, management, conversion, sale or other disposition of the trust estate, whether real or personal, as was given to or vested in the original trustee or trustees named in or appointed by the will or other instrument creating or continuing the trust, notwithstanding the power or discretion may be directed by the will or other instrument to be exercised at the discretion of the original trustee or trustees unless the power or discretion of the original trustee or trustees is expressly prohibited by the will or other instrument to any new, substituted or additional trustee.

L.1981, c. 405, s. 3B:11-7, eff. May 1, 1982.

State Codes and Statutes

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State Codes and Statutes

Statutes > New-jersey > Title-3b > Section-3b-11 > 3b-11-7

3B:11-7. Powers of new, substituted or additional trustees
A duly appointed new, substituted or additional trustee shall have the same power and discretion with respect to the investment, management, conversion, sale or other disposition of the trust estate, whether real or personal, as was given to or vested in the original trustee or trustees named in or appointed by the will or other instrument creating or continuing the trust, notwithstanding the power or discretion may be directed by the will or other instrument to be exercised at the discretion of the original trustee or trustees unless the power or discretion of the original trustee or trustees is expressly prohibited by the will or other instrument to any new, substituted or additional trustee.

L.1981, c. 405, s. 3B:11-7, eff. May 1, 1982.