New Jersey Statutes 3B:31-10. Others treated as qualified beneficiaries
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Terms Used In New Jersey Statutes 3B:31-10
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
- Trustee: A person or institution holding and administering property in trust.
3B:31-10. Others Treated as Qualified Beneficiaries.
a. Whenever notice to qualified beneficiaries of a trust is required under this act, the trustee shall also give notice to any other beneficiary who has sent the trustee a request for notice.
b. A charitable organization expressly designated to receive distributions under the terms of a charitable trust or a person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in N.J.S. 3B:31-24 or N.J.S. 3B:31-25 has the rights of a qualified beneficiary under this act.
c. The Attorney General of this State has the rights of a qualified beneficiary with respect to a charitable trust having its principal place of administration in this State.
L.2015, c.276, s.1.