3B:11-7 - Powers of new, substituted or additional trustees - New Jersey Statutes

3B:11-7.  Powers of new, substituted or additional trustees
    A duly appointed new, substituted or additional trustee shall have the same  power and discretion with respect to the investment, management, conversion,  sale or other disposition of the trust estate, whether real or personal, as was  given to or vested in the original trustee or trustees named in or appointed by  the will or other instrument creating or continuing the trust, notwithstanding  the power or discretion may be directed by the will or other instrument to be  exercised at the discretion of the original trustee or trustees unless the  power or discretion of the original trustee or trustees is expressly prohibited  by the will or other instrument to any new, substituted or additional trustee.

     L.1981, c. 405, s. 3B:11-7, eff. May 1, 1982.