3B:31-64 Recordkeeping and identification of trust property.
3B:31-64. Recordkeeping and Identification of Trust Property.
a.A trustee shall keep adequate records of the administration of the trust.
b.A trustee shall keep trust property separate from the trustee's own property.
c.Except as otherwise provided in subsection d. of this section, a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.
d.If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of the trust with other fiduciary accounts maintained by the trustee.
L.2015, c.276, s.1.
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Last modified: October 11, 2016