§ 33-9-18 Authority to lend, invest, vote,and protect investments. – (a) The superior court may, upon complaint filed by an executor oradministrator, authorize the executor or administrator to invest moneybelonging to the estate in such safe investments as it may approve, and maylikewise authorize or direct the executor or administrator to vote the stock orshares belonging to the estate in any corporation, association, or joint stockcompany in such manner and for such purposes as the court may deem advisable;and if it shall in the court's opinion be in the interest of the estate so todo, the court may authorize the executor or administrator:
(1) To lend money belonging to the estate to any corporation,association, or joint stock company, in the stock, shares, or obligations ofwhich any portion of the estate may be invested, or in which the estate may beotherwise interested;
(2) To invest money belonging to the estate in the stock,shares, or other obligations of any such corporation, association, or jointstock company;
(3) To endorse or guarantee the obligations of thecorporation, association, or joint stock company.
(b) In granting the authority, the court may impose suchconditions or restrictions and give such directions as it may deem advisable.
(c) The superior court may, upon any complaint, approve anyinvestment, loan, endorsement, guaranty, or vote previously made or given by anexecutor or administrator which the court might have authorized, and theapproval shall have the same effect as a prior order or decree authorizing theinvestment, loan, endorsement, guaranty, or vote. Any endorsement or guarantyshall be binding upon the estate, and shall not be binding upon the executor oradministrator personally.
(d) The powers herein conferred upon the superior court maybe exercised in cases where the court deems it necessary for the protection orpreservation of the estate or to prevent irreparable damage or loss to theestate, notwithstanding any provisions or directions contained in a willauthorizing or restricting the powers of an executor or administrator with thewill annexed to invest or lend money of the estate, to endorse or guaranteeobligations, or to vote the stock or shares belonging to the estate in anycorporation, association, or joint stock company; provided, however, that thecourt shall exercise these powers with extreme caution and shall not exercisethese powers in cases where the testator has in the will expressly declared orrequested that the powers shall not be exercised by the court.
§ 33-9-18 Authority to lend, invest, vote,and protect investments. – (a) The superior court may, upon complaint filed by an executor oradministrator, authorize the executor or administrator to invest moneybelonging to the estate in such safe investments as it may approve, and maylikewise authorize or direct the executor or administrator to vote the stock orshares belonging to the estate in any corporation, association, or joint stockcompany in such manner and for such purposes as the court may deem advisable;and if it shall in the court's opinion be in the interest of the estate so todo, the court may authorize the executor or administrator:
(1) To lend money belonging to the estate to any corporation,association, or joint stock company, in the stock, shares, or obligations ofwhich any portion of the estate may be invested, or in which the estate may beotherwise interested;
(2) To invest money belonging to the estate in the stock,shares, or other obligations of any such corporation, association, or jointstock company;
(3) To endorse or guarantee the obligations of thecorporation, association, or joint stock company.
(b) In granting the authority, the court may impose suchconditions or restrictions and give such directions as it may deem advisable.
(c) The superior court may, upon any complaint, approve anyinvestment, loan, endorsement, guaranty, or vote previously made or given by anexecutor or administrator which the court might have authorized, and theapproval shall have the same effect as a prior order or decree authorizing theinvestment, loan, endorsement, guaranty, or vote. Any endorsement or guarantyshall be binding upon the estate, and shall not be binding upon the executor oradministrator personally.
(d) The powers herein conferred upon the superior court maybe exercised in cases where the court deems it necessary for the protection orpreservation of the estate or to prevent irreparable damage or loss to theestate, notwithstanding any provisions or directions contained in a willauthorizing or restricting the powers of an executor or administrator with thewill annexed to invest or lend money of the estate, to endorse or guaranteeobligations, or to vote the stock or shares belonging to the estate in anycorporation, association, or joint stock company; provided, however, that thecourt shall exercise these powers with extreme caution and shall not exercisethese powers in cases where the testator has in the will expressly declared orrequested that the powers shall not be exercised by the court.
§ 33-9-18 Authority to lend, invest, vote,and protect investments. – (a) The superior court may, upon complaint filed by an executor oradministrator, authorize the executor or administrator to invest moneybelonging to the estate in such safe investments as it may approve, and maylikewise authorize or direct the executor or administrator to vote the stock orshares belonging to the estate in any corporation, association, or joint stockcompany in such manner and for such purposes as the court may deem advisable;and if it shall in the court's opinion be in the interest of the estate so todo, the court may authorize the executor or administrator:
(1) To lend money belonging to the estate to any corporation,association, or joint stock company, in the stock, shares, or obligations ofwhich any portion of the estate may be invested, or in which the estate may beotherwise interested;
(2) To invest money belonging to the estate in the stock,shares, or other obligations of any such corporation, association, or jointstock company;
(3) To endorse or guarantee the obligations of thecorporation, association, or joint stock company.
(b) In granting the authority, the court may impose suchconditions or restrictions and give such directions as it may deem advisable.
(c) The superior court may, upon any complaint, approve anyinvestment, loan, endorsement, guaranty, or vote previously made or given by anexecutor or administrator which the court might have authorized, and theapproval shall have the same effect as a prior order or decree authorizing theinvestment, loan, endorsement, guaranty, or vote. Any endorsement or guarantyshall be binding upon the estate, and shall not be binding upon the executor oradministrator personally.
(d) The powers herein conferred upon the superior court maybe exercised in cases where the court deems it necessary for the protection orpreservation of the estate or to prevent irreparable damage or loss to theestate, notwithstanding any provisions or directions contained in a willauthorizing or restricting the powers of an executor or administrator with thewill annexed to invest or lend money of the estate, to endorse or guaranteeobligations, or to vote the stock or shares belonging to the estate in anycorporation, association, or joint stock company; provided, however, that thecourt shall exercise these powers with extreme caution and shall not exercisethese powers in cases where the testator has in the will expressly declared orrequested that the powers shall not be exercised by the court.
