New Jersey Statutes Appendix - Former Title 3A Administration of Estates Decedents and Others 3A § 15-17.7

A fiduciary who or which has heretofore received or hereafter receives shares of the capital stock of a bank holding company as authorized by this act may, in the exercise of good faith and reasonable discretion, continue to hold such shares without being accountable for any loss by reason of such continuance, regardless whether or not (a) the shares so held are the substantial equivalent of the shares surrendered in exchange for or on conversion thereof; or (b) the shares so received and held are authorized by the law of this State from time to time governing the investment of trust funds.