New Jersey Statutes 3B:20-34. Application of article
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Terms Used In New Jersey Statutes 3B:20-34
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means an individual or corporation that is authorized to act as or acts as a trustee, personal representative, conservator, guardian, and every other individual or corporation charged with the duty of administering a trust estate. See New Jersey Statutes 3B:20-1
- Trust instrument: means and includes a will, deed, agreement, court order or other instrument pursuant to which money or other property is entrusted to a fiduciary. See New Jersey Statutes 3B:20-1
3B:20-34. Application of article. This article shall apply to any fiduciary holding securities in its fiduciary capacity, and to any banking institution holding securities as a custodian, managing agent or custodian for a fiduciary, acting on January 2, 1974, or who thereafter may act regardless of the date of the trust instrument by which the fiduciary is appointed and regardless of whether or not the fiduciary or the banking institution acting as custodian, managing agent or custodian for a fiduciary owns capital stock of the clearing corporation.
Amended 1997, c.26, s.23.