Title 3B, Title 3B: ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS

3B:15-13. How deposits made and withdrawn Deposits authorized under N.J.S. 3B:15-11 shall be made in the name of the fiduciary and shall be withdrawn from the custody of the depository only upon the direction of the court which authorized the deposit and no part of the principal …

3B:15-14. Additional bond upon withdrawals 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 t…

3B:15-15. Depository to issue duplicate deposit certificates A depository receiving a deposit pursuant to N.J.S. 3B:15-11 shall issue a certificate in duplicate and deliver one certificate to the clerk of the court authorizing the deposit and the other to the fiduciary. The certi…

3B:15-16 Deposit and investment. 3B:15-16. Deposit and investment. Where the estate of a minor for whom a guardian has been or is to be appointed by a surrogate, consists of or is likely to consist of the proceeds of a judgment recovered in favor of the minor in any court of this…

3B:15-17. Investment by surrogate The court may direct that the moneys, or any part thereof, shall be invested by the surrogate of the county, where the guardian has been or shall be appointed, in United States Savings Bonds in the name of the minor, and in the event of the matur…

3B:15-17.1 Payment at age 18. 1. Where the estate of a minor consists of the proceeds of a judgment recovered in favor of the minor in any court of this State and the funds recovered are placed under the control of the county surrogate, the funds shall be paid over to the person …

3B:15-18. Discharge of surety from liability for future acts of fiduciary, receiver or assignee The court shall discharge a surety on the bond of a fiduciary, receiver or assignee for the benefit of creditors from liability for all his acts and omissions occurring after the grant…

3B:15-19. Discharge of surety for fiduciary or assignee after final account At any time 3 months after the entry of a final judgment of distribution made after the allowance of the final account of a fiduciary or assignee for the benefit of creditors, the court shall, in an actio…

3B:15-2. Bonds not to be approved unless prescribed conditions are included When specific conditions as to a particular bond are prescribed by law, the bond shall not be approved unless the prescribed conditions are included therein, and where by law security is authorized to be …

3B:15-20. Effect of discharge of surety After discharge of a surety pursuant to this article, all his liability by virtue of his undertaking shall cease, but the personal liability of the principal in the bond shall remain. L.1981, c. 405, s. 3B:15-20, eff. May 1, 1982.

3B:15-21. Reduction of fiduciary's bond; discharge of original sureties When it shall appear upon the allowance of a fiduciary's intermediate account that the fiduciary's bond is in a greater sum than is necessary for the proper protection of property and assets of the estate rem…

3B:15-22. Discharge of fiduciary from liability on bond without surety Whenever a fiduciary which is a bank, trust company, savings bank or national bank, has heretofore given or hereafter gives a bond without surety and it shall appear to the satisfaction of the court, that the …

3B:15-23 Proof of order to limit creditors required in certain cases. 3B:15-23. Proof of order to limit creditors required in certain cases. An order of discharge shall not be made in cases in which the fiduciary is an executor, administrator with the will annexed, substituted ad…

3B:15-24. Prosecution of fiduciaries' bonds Except as otherwise provided by law, when the bond of a fiduciary given to a court or to a judicial officer or clerk of a court, for the faithful performance, by him, of the duties of his office as fiduciary, is forfeited, the bond may,…

3B:15-25. Court in which to bring proceedings to assess damages, to satisfy judgment or to discontinue action The moneys found due on the fiduciary's bond shall be applied toward making good the damage sustained by reason of the nonperformance of the conditions of the bond. Proce…

3B:15-26. Proceedings to satisfy judgment on bond; notice to claimants If any bond given by a fiduciary is forfeited and prosecuted to judgment in any court of record, and it is made to appear to the Superior Court, by a complaint filed by any surety against whom judgment has bee…

3B:15-27. Presentation of claims Debts, claims and demands ordered to be brought in, pursuant to this article, shall be presented by the respective claimants in writing, verified by oath, setting forth the amount and particulars thereof, or they shall be of no effect. L.1981, c. …

3B:15-28. Exceptions; trial The surety may except to any claim, debt or demand, and thereupon the same shall be tried as the court may direct, and the court may disallow and reject it if it is not established. L.1981, c. 405, s. 3B:15-28, eff. May 1, 1982.

3B:15-29. Satisfaction of judgment After expiration of the time limited in the order the court may order satisfaction of the judgment to be entered pursuant to law upon proof to its satisfaction that notice has been advertised as directed and that no claims, debts or demands have…

3B:15-3. Bond where will requires bond and fails to name obligee; prosecution When a will nominating an executor or devising or bequeathing property to a trustee by its terms requires the executor or trustee to give bond but is silent as to who shall be the obligee in the bond, t…

3B:15-30. Application to have action on bond discontinued In any action on the bond of a fiduciary, the surety before judgment may apply to have the action discontinued. The application shall be made to the Superior Court as provided in N.J.S. 3B:15-25. The court shall thereupon …

3B:15-31. Discontinuance of action on bond If it shall appear on the hearing that all damages sustained by reason of the forfeiture of the bond have been paid so far as the surety shall have been able to ascertain, the court may direct that the action be discontinued upon payment…

3B:15-32. Unsatisfied claims If the claim of any person aggrieved by the forfeiture of the bond shall remain unsatisfied after the discontinuance of the action, the person may reprosecute the bond, in the same manner as if the action had not been instituted on the bond. L.1981, c…

3B:15-33. Bonds not invalidated because of abolition of certain offices or courts No bond heretofore given by any fiduciary for the faithful performance, by him, of the duties of his office as a fiduciary, to any court or to any judicial officer, or clerk of any court abolished b…

3B:15-4. Bond when property unsafe or in danger of waste If a fiduciary has not previously furnished a bond and proof is made to the satisfaction of the court that the property in his hands is unsafe, insecure, or in danger of being wasted, the court may, at the instance of any p…

3B:15-5. Conditions of bond on grant of intestate administration The bond of an administrator of the estate of a person dying intestate shall be conditioned substantially as follows: a. If required by the court or if an exemption is to be set off as required in chapter 16 of this…

3B:15-6. Conditions of bonds on certain grants of administration In the case of the grant of letters of administration durante minori aetate, durante absentia, pendente lite, cum testamento annexo and other grants of administration, the conditions of the fiduciary's bond shall be…

3B:15-7 Bond required of guardian of minor or person who is incapacitated. 3B:15-7. The bond required of a guardian of a minor or a person who is incapacitated shall be conditioned substantially as follows: a. To administer the ward's estate to the best of the guardian's ability,…

3B:15-8. Allowance of expense of procuring surety bond of fiduciary, receiver or assignee A fiduciary, receiver or assignee for the benefit of creditors required by law or order of court to give a bond, may include as a part of the lawful expense of executing his trust a reasonab…

3B:15-9. Additional surety when original sureties and bond insufficient If it appears that the security given by a fiduciary at the time of his appointment was insufficient or has become insufficient or the sureties appear to be in failing circumstances or insufficient for the se…