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  5. 27 A.D.2d 890 (1967)
 

MATTER OF FIRST CITY NAT'L BANK OF BINGHAMTON

27 A.D.2d 890 (1967)

In the Matter of the Accounting of First City National Bank of Binghamton, as Trustee of Express Trusts Created by Henry C. F. Staunton and Another, Deceased, Respondent. John J. Staunton, Individually and as Executor of Henry C. F. Staunton, Deceased, and Florence E. Staunton, Deceased, et al., Appellants

Appellate Division of the Supreme Court of the State of New York, Third Department.

March 15, 1967

AULISI, J.

Upon the death of the surviving settlor, the trustee was to "pay over and deliver the principal (of both trusts) * * * to the remaindermen (who were settlors' five children)." The surviving settlor, Florence E. Staunton, died May 30, 1962 and the trustee was notified by telephone the next day. By June 7, 1962 the trustee had sold all the stocks and bonds in the corpus and invested the proceeds in United...

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