New York § 74 - 74Authority of trustee in administering trust funds
Full text of New York New York Consolidated Laws § 74 — 74Authority of trustee in administering trust funds, with citation guidance and answers to common questions.
§ 74. 74Authority of trustee in administering trust funds
§ 74. Authority of trustee in administering trust funds. 1. Subject to subdivisions two and three of this section, the trustee is authorized to determine the order and manner of payment of any trust claims and to apply any trust asset to any purpose of the trust. 2. The authority of the trustee provided in this section shall terminate with respect to any trust assets as to which an order for distribution is made as provided in section seventy-seven and before the making of an order for distribution may be terminated or limited by order of the court pursuant to subdivision three of section seventy-seven. 3. This section does not limit the effect of any proceeding or order therein by which jurisdiction of the trust assets, or any of them, is vested in a court or by which a particular application of any asset or of all trust assets is enforced or directed.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 74
What does New York Consolidated Laws § 74 cover?
Section 74 ("74Authority of trustee in administering trust funds") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 74?
A common citation format is "New York Consolidated Laws § 74" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 74 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.