Section 18-9-13. – Annual fiduciary’s report.
§ 18-9-13. Annual fiduciary’s report. (a) Any fiduciary holding property subject to equitable duties to deal with the property for charitable, educational, or religious purposes shall annually, on or before July 1, unless otherwise directed by the attorney general, make to the attorney general a written report for the last preceding fiscal year of the […]
Section 18-9-14. – Reasonable care required regardless of language of trust.
§ 18-9-14. Reasonable care required regardless of language of trust. Regardless of any language in the agreement, deed, or other instrument creating an inter vivos charitable trust, no trustee or trustees of a trust shall be exonerated from liability for failure to exercise reasonable care, diligence, and prudence. History of Section.P.L. 1950, ch. 2617, § […]
Section 18-9-15. – Institutions and contingent trusts exempt.
§ 18-9-15. Institutions and contingent trusts exempt. The provisions of this chapter shall not be applicable to charitable, religious, and educational institutions holding funds in trust exclusively for their own charter or corporate purposes nor to trusts in which the charitable interest is contingent upon the happening of an uncertain future event; provided, that upon […]
Section 18-9-16. – Termination of certain charitable trusts.
§ 18-9-16. Termination of certain charitable trusts. (a) A charitable trust with total assets of less than two hundred thousand dollars ($200,000) may be terminated at any time at the discretion of the trustee or trustees with the consent of the attorney general and the beneficiary or beneficiaries by delivery of the assets to the […]
Section 18-9-1. – Division of charitable trusts — Establishment.
§ 18-9-1. Division of charitable trusts — Establishment. There is established, in the department of, and subject to the control of, the attorney general, a division for the supervision and enforcement of the due application of funds given or appropriated to charitable trusts within the state and for the prevention of breaches of trust. The […]
Section 18-9-17. – Enforcement of the fiduciary responsibilities of the trustees of charitable trusts.
§ 18-9-17. Enforcement of the fiduciary responsibilities of the trustees of charitable trusts. (a) If the trustee(s) fails to register a charitable trust with the attorney general as required by this chapter, an additional fee not to exceed one hundred dollars ($100) may be assessed at the time the trust is finally registered. (b) When […]
Section 18-9-2. – Administrator of charitable trusts.
§ 18-9-2. Administrator of charitable trusts. The executive and administrative head of the division of charitable trusts shall be the administrator of charitable trusts. The administrator shall be appointed by the attorney general and shall hold office at the attorney general’s pleasure. The administrator shall be qualified by training and experience to perform the duties […]
Section 18-9-3. – Appointment and removal of assistants — Experts.
§ 18-9-3. Appointment and removal of assistants — Experts. The administrator, with the approval and consent of the attorney general, may appoint and remove any assistants that the work of the division may require. These assistants shall not be in the classified service. The administrator, with the approval and consent of the attorney general, may […]
Section 18-9-4. – “Charitable trusts” defined.
§ 18-9-4. “Charitable trusts” defined. “Charitable trusts” as used in this chapter means any fiduciary relationship with respect to property arising as a result of a manifestation of an intention to create it and subjecting the person by whom the property is held to equitable duties to deal with the property for charitable, educational, or […]
Section 18-9-5. – Notice to attorney general of proceedings affecting charitable trusts.
§ 18-9-5. Notice to attorney general of proceedings affecting charitable trusts. The attorney general shall be notified of all judicial proceedings affecting, or in any manner dealing with, a charitable trust, or affecting, or in any manner dealing with, a trustee who holds in trust within the state property given, devised, or bequeathed for charitable, […]