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This entry was published on 2014-09-22
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Authority of trustee in administering trust funds
§ 74. Authority of trustee in administering trust funds. 1. Subject to
subdivisions two and three of this section, the trustee is authorized to
determine the order and manner of payment of any trust claims and to
apply any trust asset to any purpose of the trust.

2. The authority of the trustee provided in this section shall
terminate with respect to any trust assets as to which an order for
distribution is made as provided in section seventy-seven and before the
making of an order for distribution may be terminated or limited by
order of the court pursuant to subdivision three of section

3. This section does not limit the effect of any proceeding or order
therein by which jurisdiction of the trust assets, or any of them, is
vested in a court or by which a particular application of any asset or
of all trust assets is enforced or directed.