New York DCD Code § 214

Effect of order
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§ 214. Effect of order. Upon such order being granted, such trustee\nshall be discharged from the trust reposed in him, and his power and\nauthority shall thereupon cease; but he shall, notwithstanding, remain\nsubject to any liability he may have incurred, at any time previous to\nthe granting of such order, in the management of his trust.\n

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