2006 New York Code - 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  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.