New Jersey Statutes Appendix - Former Title 3A Administration of Estates Decedents and Others 3A § 15-11

When a testator has invested in municipal bonds or in bonds secured by mortgages, or in bonds or shares of stock of a corporation, and the same come into the hands of his executor, administrator with the will annexed or trustee, to be by him administered, such fiduciary may, in the exercise of good faith and reasonable discretion, continue such investments and in such case he shall not be accountable for any loss by reason of such continuance.