Section 18-15-12. – Uniformity of application and construction.
§ 18-15-12. Uniformity of application and construction. This chapter shall be applied and construed to effectuate its general purpose to make the law uniform with respect to the subject of this chapter among the states enacting it. History of Section.P.L. 1996, ch. 276, § 1.
Section 18-15-13. – Short title.
§ 18-15-13. Short title. This chapter may be cited as the “Rhode Island Uniform Prudent Investor Act”. History of Section.P.L. 1996, ch. 276, § 1.
Section 18-16-1. – Use of statutory form.
§ 18-16-1. Use of statutory form. The statutory form of short form power of attorney, as set forth in § 18-16-2, may be used in the creation of a power of attorney for the purposes set forth in that section; and when used and created, shall be construed in accordance with the provisions of this […]
Section 18-16-2. – Statutory short form power of attorney.
§ 18-16-2. Statutory short form power of attorney. (a) The statutory short form power of attorney is as follows: SHORT FORM POWER OF ATTORNEYWARNING TO PERSON EXECUTING THIS DOCUMENT This is an important legal document which is authorized by the general laws of this state. The powers granted by this document are broad and sweeping. […]
Section 18-14-6. – Severability.
§ 18-14-6. Severability. If any provision of this chapter or its application 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 provisions of this chapter are severable. History of Section.P.L. 1994, ch. 352, § […]
Section 18-15-1. – Prudent investor rule.
§ 18-15-1. Prudent investor rule. (a) Except as otherwise provided in subsection (b) of this section, a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this chapter. (b) The prudent investor rule, a default rule, may be […]
Section 18-15-2. – Standard of care — Portfolio strategy — Risk and return objectives.
§ 18-15-2. Standard of care — Portfolio strategy — Risk and return objectives. (a) A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. (b) A […]
Section 18-15-3. – Diversification.
§ 18-15-3. Diversification. A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying. History of Section.P.L. 1996, ch. 276, § 1.
Section 18-15-4. – Duties at inception of trusteeship.
§ 18-15-4. Duties at inception of trusteeship. Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other […]
Section 18-15-5. – Loyalty.
§ 18-15-5. Loyalty. A trustee shall invest and manage the trust assets solely in the interest of the beneficiaries. History of Section.P.L. 1996, ch. 276, § 1.