Delaware General Assembly

CHAPTER 245

SETTLEMENT OF PERSONAL ESTATES

AN ACT to amend Chapter 98 of the Revised Code of the State of Delaware (1915) relating to the Settlement of Personal Estates.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:

Section 1. That Chapter 98 of the Revised Code of the State of Delaware (1915) be and the same is hereby amended by striking out and repealing all of 3393, Section 60.

Section 2. That Chapter 98 of the Revised Code of the State of Delaware (1915) be and the same is hereby amended by striking out all of 3394, Section 61 and inserting in lieu thereof the following:

3394. Sec. 61. Acquittances from Guardian or Trustee ; Form of ; Filed with Register ; How Treated in Account before Register: Whenever an executor or administrator shall make an assignment of any investment or shall transfer or deliver any personal property of any testator or intestate to a guardian or trustee as payment in whole or in or Trustee part of a legacy or distributive share, such guardian or trustee shall give to such executor or administrator a receipt therefor at the valuations affixed in the appraisement of the estate of such testator or intestate, and such receipt, therefor when delivered to the Register of Wills before whom it shall be the duty of such executor or administrator to pass his Discharge of account, shall be a sufficient discharge of such executor or executor, administrator, administrator and of his sureties for any investment and/or and surety property so assigned, transferred or delivered, and such Guardian or Trustee may take over such property and may without liability for any loss or depreciation therein continue to hold the same, until in the exercise of due care it Proviso shall become no longer wise so to do; provided, however, that in case a trustee, guardian or other fiduciary is acting under authority of an instrument, the terms and provisions of such instrument shall be controlling as to the power and duty of such trustee, guardian or other fiduciary.

Section 3. That Chapter 98 of the Revised Code of the State of Delaware (1915) be and the same is hereby amended by striking out and repealing all of 3395, Section 62.

Approved April 25, 1931.