74 – Authority 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 […]
75 – Deposit of Funds of Trust; Books or Records to Be Kept.
§ 75. Deposit of funds of trust; books or records to be kept. 1. If the trustee deposits trust funds in a bank or other depositary they shall be deposited in his name. The trustee shall not be required to keep in separate bank accounts or deposits the funds of the separate trusts of which […]
76 – Right of Beneficiaries to Examine Books or Records and Make Copies, or to Receive Statement.
§ 76. Right of beneficiaries to examine books or records and make copies, or to receive statement. 1. Any beneficiary of the trust holding a trust claim shall be entitled, upon request, after the expiration of thirty days from the date his trust claim became payable, and thereafter not oftener than once in each month, […]
61 – Judgment in Action to Foreclose a Mechanic’s Lien on Property of a Railroad Corporation.
§ 61. Judgment in action to foreclose a mechanic’s lien on property of a railroad corporation. If the lien is for labor done or materials furnished for a railroad corporation, upon its land, or upon or for its track, rolling stock or the appurtenances of its railroad, the judgment shall not direct the sale of […]
62 – Bringing in New Parties.
§ 62. Bringing in new parties. A lienor who has filed a notice of lien after the commencement of an action in a court of record to foreclose or enforce a mechanic’s lien against real property or a public improvement, may at any time up to and including the day preceding the day on which […]
63 – Service of Answer on State or Public Corporation.
§ 63. Service of answer on state or public corporation. In an action to foreclose a lien for a public improvement each defendant named in the original summons shall within forty days after the service of the complaint on him serve upon the state or public corporation, a copy of his answer When the city […]
54 – Judgment in Case of Failure to Establish Lien.
§ 54. Judgment in case of failure to establish lien. If the lienor shall fail, for any reason, to establish a valid lien in an action under the provisions of this article, he may recover judgment therein for such sums as are due him, or which he might recover in an action on a contract, […]
55 – Offer to Pay Money Into Court, or to Deposit Securities, in Discharge of the Lien.
§ 55. Offer to pay money into court, or to deposit securities, in discharge of the lien. At any time after an action is brought under the provision of this article, the owner may make and file with the clerk with whom the notice of lien is filed, if in a court of record, and […]
56 – Preference Over Contractors.
§ 56. Preference over contractors. When a laborer, subcontractor or material man shall perform labor or furnish materials for an improvement of real property or for a public improvement, for which he is entitled to a mechanic’s lien, the amount due to him shall be paid out of the proceeds of the sale of such […]
57 – Judgment May Direct Delivery of Property in Lieu of Money.
§ 57. Judgment may direct delivery of property in lieu of money. If the owner has agreed to deliver bills, notes, securities or other obligations or any other species of property, in payment of the debt upon which the lien is based, the judgment may direct that such substitute be delivered or deposited as the […]