3B:15-14. Additional bond upon withdrawals
83 words·~1 min read·
/nj/title-3b/chapter-15/3b-15-14·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A fiduciary shall not be permitted by the court to collect or receive the principal of securities on deposit or to withdraw a deposit pursuant to N.J.S. 3B:15-13 unless an additional bond has been given by him, or unless there is proof that the estate or fund has been so reduced by payments or otherwise, that the amount of the bond originally given will be sufficient in amount to secure the estate or fund.
L.1981, c. 405, s. 3B:15-14, eff. May 1, 1982.