Section 18-13-20. – Uniformity of application of construction.
§ 18-13-20. Uniformity of application of construction. This chapter shall be applied and construed to effectuate its general purpose to make the law uniform with respect to its subject among states enacting it. History of Section.P.L. 1988, ch. 623, § 1.
Section 18-13-21. – Short title.
§ 18-13-21. Short title. This chapter may be cited as the “Rhode Island Uniform Custodial Trust Act”. History of Section.P.L. 1988, ch. 623, § 1.
Section 18-13-22. – Severability.
§ 18-13-22. Severability. If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable. History […]
Section 18-13-3. – Custodial trustee for future payment or transfer.
§ 18-13-3. Custodial trustee for future payment or transfer. (a) A person having the right to designate the recipient of property payable or transferable upon a future event may create a custodial trust upon the occurrence of the future event by designating in writing the recipient, followed in substance by “as custodial trustee for (name […]
Section 18-13-19. – Applicable law.
§ 18-13-19. Applicable law. (a) This chapter applies to a transfer or declaration creating a custodial trust that refers to this chapter if, at the time of the transfer or declaration, the transferor, beneficiary, or custodial trustee is a resident of or has its principal place of business in this state or custodial trust property […]
Section 18-13-4. – Form and effect of receipt and acceptance by custodial trustee — Jurisdiction.
§ 18-13-4. Form and effect of receipt and acceptance by custodial trustee — Jurisdiction. (a) Obligations of a custodial trustee, including the obligation to follow directions of the beneficiary, arise under this chapter upon the custodial trustee’s acceptance, express or implied, of the custodial trust property. (b) The custodial trustee’s acceptance may be evidenced by […]
Section 18-13-5. – Transfer to custodial trustee by fiduciary or obligor — Facility of payment.
§ 18-13-5. Transfer to custodial trustee by fiduciary or obligor — Facility of payment. (a) Unless otherwise directed by an instrument designating a custodial trustee pursuant to § 18-13-3, a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator, […]
Section 18-13-6. – Multiple beneficiaries — Separate custodial trusts — Survivorship.
§ 18-13-6. Multiple beneficiaries — Separate custodial trusts — Survivorship. (a) Beneficial interests in a custodial trust created for multiple beneficiaries are deemed to be separate custodial trusts of equal undivided interests for each beneficiary. Except in a transfer or declaration for use and benefit of husband and wife, for whom survivorship is presumed, a […]
Section 18-13-7. – General duties of custodial trustee.
§ 18-13-7. General duties of custodial trustee. (a) If appropriate, a custodial trustee shall register or record the instrument vesting title to custodial trust property. (b) If the beneficiary is not incapacitated, a custodial trustee shall follow the directions of the beneficiary in the management, control, investment, or retention of the custodial trust property. In […]
Section 18-13-8. – General powers of custodial trustee.
§ 18-13-8. General powers of custodial trustee. (a) A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may only exercise those rights and powers in a fiduciary capacity. (b) This section does […]