3B:15-17 - Investment by surrogate - New Jersey Statutes

3B:15-17.  Investment by surrogate
    The court may direct that the moneys, or any part thereof, shall be invested  by the surrogate of the county, where the guardian has been or shall be  appointed, in United States Savings Bonds in the name of the minor, and in the  event of the maturity of the bonds during the period of minority, the court may  order the surrogate to reinvest the proceeds in other United States Savings  Bonds having later maturity dates.  The custody of the bonds shall be retained  by the surrogate, and the moneys or bonds shall be subject to any order in  respect thereto as may be made by the court.  The moneys shall be paid out or  the bonds surrendered by the surrogate only by order of the court.

     L.1981, c. 405, s. 3B:15-17, eff. May 1, 1982.