N.J.S.A. 3B:15-21 — Reduction of fiduciary's bond; discharge of original sureties

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 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.

This is the verbatim text of N.J.S.A. 3B:15-21, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.