The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-08-24
WOlFSON BROS.
LAWS OF NEW JERSEY.
BY AUTHORITY.
CHAPTER Cox. - Continued

8. And be it enacted, That whenever a
decedent appoints or names one or more
executors or trustees. and makes a be-
quest or devise of property to them in
which otherwise would be liable to said
lieu of their commissions or allowances.
tax. or appoints them his residuary
legatees, n said %bequest. devises or
r~esiduary legacies exceed what would
b a reasonable compensation for their
services, such excess shall be liable to
said tax, and the chancellor or the
orphans court having jurisdiction in
the case shall fix such compensation.
4. And be it enactd, That all taxes i'm
posed by this act unless otherwise here
in provided for, shall be due and payable
intestate as the case may be, and if she
same are paid within one year, interest
at the rate of six. per centum per annum
shall be charged and collected there
rate of ten per centum per annum shall
be charged and collected from the
time said tax accrued; provided, that if
said tax is paid within nine months
from the accruing thereof. interest shall
not be charged or collected thereon. but
a discount of five per eentum shall be
allowed and deducted from said tax:
and in all cases where the executors,
administrators or trustees do not pay
such tax within one year from he death
of the dcedent, they shall he required to
give a bond. in hte form and TO the eff
feet prescribed in section two of this
act, for the payment of said tax, to-
gether with interest.
5. And be it enacted, That the penalty
of ten per centum per annum imposed by
seton four hereof for the nonpayment of
sair tax shall not be charged wherein
cases by reason of claims made upon the
estate, necessary litigation or other un-
avoidable cause of delay. the estate Of
any d~ecedent, or a part thereof, cannot
be settled at the end of a year from the
death of the decedent, and in such cases
Only six per centum per annum shall be
charged upon the said tax from the ex-
piration of such year until the cause
of such delay is removed.
e. And be it enacted That any admins
traitor, executor or trustee having in
charge or trust any egacy or property
for distribution, subject 10 said taN,shall
aoy or property be not money, he shall
collect the tax thereon upon the ap-
praised value thereof from the legatee or
person entitled to such property, and he
shall not deliver or be compelled to de.
liver any specific legacy n property sub
ject to tax to any person until he shall
have collected the tax thereon, and
charged upon or payable out of real es-
tate, the heir or devisee, before pay
ing the same, shall deduct said tax
executor, administrator or trustee. and
| the sameashall remain a charge on such
real estate until paid, and the payment
| cutor, administrator or trustee In the
| same manner that the payment of such
legacy might be enforced; If, however,
| such legacy be given in money to any
person for a limited period, he shall
retain the tax upon the whole amount,
but if it be not in money, he h make
| application to the court having jurisdic-
ton of his accounts to make an appor-
| tionment, if the case require it, of the
| sum to be paid into his hands by such
| legatees, and for such further order
| relative thereto as the case may require.
7, And be it enacted, That all executors,
administrators and trustees shall have
full power to sell so much of the prop
erty of the decedent as will enable them
to pay said tax, in the same manner as
they may be enabled by law to do fol-
the aymen of debts of their testators
and intestates, and the amount of said
tax shall be paid as hereinafter direct
ed.
5. And be it enacted, That any sum OF
money retained by any executor, admin
i~strator or trustee, or paid into his hands
for any tax or any property, shall be
maid by. hiIn, within thirty days there
after. to the treasurer of the state OF
New Jersey; and the said treasurer shal,
deliver a receipt of such ayfne to the
comptroller of the state, whose duty il
shall be to countersign the same and re
turn it to the executor, administrator OF
trustee, whereupon 1t shall be a PROPER
voucher in the settlement of his recount
hut an executor, administrator or trustee
shall not be entitled to credit in his &C,
counts, nor to De discharged from ia