3B:17-12 - Fiduciary, receiver or assignee; rental of safe deposit box; expenses of safe-keeping of securities - New Jersey Statutes

3B:17-12.  Fiduciary, receiver or assignee;  rental of safe deposit box; expenses of safe-keeping of securities    A fiduciary, receiver or assignee for the benefit of creditors may include as a part of the lawful expense of executing his trust a reasonable sum paid to  a bank, trust company or safe deposit company organized under the laws of this  State, or to a national bank doing business in this State, for safe deposit box  rental for the safe-keeping or custody of the securities of the trust, as may  be allowed by the court. A fiduciary, receiver or assignee for the benefit of  creditors who holds under a lease or owns a vault within this State may include  as a part of the lawful expense of executing his trust a reasonable sum for the safe-keeping of the securities and other property of the trust in the vault as  may be allowed by the court.

     L.1981, c. 405, s. 3B:17-12, eff. May 1, 1982.