3B:31-47 Trustee's bond.
76 words·~1 min read·
/nj/title-3b/chapter-31/3b-31-47A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Trustee's Bond.
a. A trustee shall give bond to secure performance of the trustee's duties as prescribed by N.J.S.3B:15-1 et seq. if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with that requirement.
b. Unless otherwise directed by the court, the cost of the bond is an expense of the trust.
L.2015, c.276, s.1.