N.Y. SCP Law § 1506
This is the official text of N.Y. SCP Law § 1506, part of New York’s SCP Law — part of the compiled statutory law of New York, published by the state as "SCP Law." Browse the sections below, each linked to its official government source.
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Nonliability for acts of predecessor executor A trustee who was not an executor of the estate of the same decedent shall not be liable fo...
Official statutory text
§ 1506. Nonliability for acts of predecessor executor\n A trustee who was not an executor of the estate of the same decedent\nshall not be liable for breach of trust committed by the executor in any\nof the following cases:\n 1. He received the assets of the trust pursuant to a final decree of\nthe court.\n 2. He did not know of a situation constituting a breach of trust\ncommitted by the executor, and does not improperly permit it to\ncontinue.\n 3. He does not neglect to take proper steps to compel the executor to\ndeliver trust property to him.\n 4. He does not neglect to take proper steps to redress a breach of\ntrust committed by the executor.\n
Status: in_force · Read it on the official government site
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