New Jersey § 3B:15-21 Reduction of fiduciary's bond;  discharge of original sureties

New Jersey Statutes

§ 3B:15-21 — Reduction of fiduciary's bond; discharge of original sureties

New Jersey § 3B:15-21

Title 3BADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS

This text of New Jersey § 3B:15-21 (Reduction of fiduciary's bond; discharge of original sureties) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 3B:15-21 (2026).

Text

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 remaining in his hands, the court may, in an action for that purpose, allow the fiduciary to give a new bond in a lesser sum as the court may deem sufficient. When the new bond, with conditions and sureties duly approved, is filed, the court by its order may discharge the sureties upon the original bond from all liability thereunder after the date of the order. L.1981, c. 405, s. 3B:15-21, eff. May 1, 1982.

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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 remaining in his hands, the court may, in an action for that purpose, allow the fiduciary to give a new bond in a lesser sum as the court may deem sufficient. When the new bond, with conditions and sureties duly approved, is filed, the court by its order may discharge the sureties upon the original bond from all liability thereunder after the date of the order. L.1981, c. 405, s. 3B:15-21, eff. May 1, 1982.