New Jersey Statutes Appendix - Former Title 3A Administration of Estates Decedents and Others 3A § 15-20

Within the limitations of the standard prescribed by section 3A:15-19 of this title, a fiduciary may invest in any investments whatsoever; but no fiduciary shall make any investment for a trust estate in any limited legal investment if, on the valuation date, the aggregate value of all limited legal investments held in such trust estate exceeds, or if the investing in such limited legal investment would cause such aggregate value to exceed, 40% of the aggregate value of all the property which constitutes the principal of such trust estate.