New Jersey Statutes 3B:31-69. General powers of trustee
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Terms Used In New Jersey Statutes 3B:31-69
- Trustee: A person or institution holding and administering property in trust.
3B:31-69. General Powers of Trustee.
a. Except as limited by section 1 of P.L.1996, c.41 (C. 3B:11-4.1) and other express statutory restrictions, a trustee, without authorization by the court, may exercise:
(1) powers conferred by the terms of the trust; or
(2) except as limited by the terms of the trust:
(a) all powers over the trust property which an unmarried competent owner has over individually owned property;
(b) any other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and
(c) any other powers conferred by this act and by Title 3B of the New Jersey Statutes.
b. The exercise of a power is subject to the fiduciary duties prescribed by this act and by Title 3B of the New Jersey Statutes.
L.2015, c.276, s.1.