reglab/housing_qa huggingface dataset:
RI Gen L § 18-13-16 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-13 - Rhode Island Uniform Custodial Trust Act|Section 18-13-16 - Limitations of action against custodial trustee.

§ 18-13-16. Limitations of action against custodial trustee.(a) Except as provided in subsection (c) of this section, unless previously barred by adjudication, consent, or limitation, a claim for relief against a custodial trustee for accounting or breach of duty is barred as to a beneficiary, a person to whom custodial trust property is to be paid or delivered, or the legal representative of an incapacitated or deceased beneficiary or payee:(1) Who has received a final account or statement fully disclosing the matter, unless an action or proceeding to assert the claim is commenced within two (2) years after the receipt of the final account or statement; or(2) Who has not received a final account or statement fully disclosing the matter, unless an action or proceeding to assert the claim is commenced within three (3) years after the termination of the custodial trust.(b) Except as provided in subsection (c) of this section, a claim for relief to recover from a custodial trustee for fraud, misrepresentation, or concealment related to the final settlement of the custodial trust or concealment of the existence of the custodial trust, is barred unless an action or proceeding to assert the claim is commenced within five (5) years after the termination of the custodial trust.(c) A claim for relief is not barred by this section if the claimant:(1) Is a minor, until the earlier of two (2) years after the claimant becomes an adult or dies;(2) Is an incapacitated adult, until the earliest of two (2) years after:(i) The appointment of a conservator;(ii) The removal of the incapacity; or(iii) The death of the claimant; or(3) Was an adult, now deceased, who was not incapacitated, until two (2) years after the claimant's death.History of Section.P.L. 1988, ch. 623, § 1.
RI Gen L § 18-13-17 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-13 - Rhode Island Uniform Custodial Trust Act|Section 18-13-17 - Distribution on termination.

§ 18-13-17. Distribution on termination.(a) Upon termination of a custodial trust, the custodial trustee shall transfer the unexpended custodial trust property:(1) To the beneficiary, if not incapacitated or deceased;(2) To the conservator or other recipient designated by the court for an incapacitated beneficiary; or(3) Upon the beneficiary's death, in the following order:(i) As last directed in a writing signed by the deceased beneficiary while not incapacitated and received by the custodial trustee during the life of the deceased beneficiary;(ii) To the survivor of multiple beneficiaries if survivorship is provided for pursuant to § 18-13-6;(iii) As designated in the instrument creating the custodial trust; or(iv) To the estate of the deceased beneficiary.(b) If, when the custodial trust would otherwise terminate, the distributee is incapacitated, the custodial trust continues for the use and benefit of the distributee as beneficiary until the incapacity is removed or the custodial trust is otherwise terminated.(c) Death of a beneficiary does not terminate the power of the custodial trustee to discharge obligations of the custodial trustee or beneficiary incurred before the termination of the custodial trust.History of Section.P.L. 1988, ch. 623, § 1.
RI Gen L § 18-13-19 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-13 - Rhode Island Uniform Custodial Trust Act|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 is located in this state. The custodial trust remains subject to this chapter despite a later change in residence or principal place of business of the transferor, beneficiary, or custodial trustee, or removal of the custodial trust property from this state.(b) A transfer made pursuant to an act of another state substantially similar to this chapter is governed by the law of that state and may be enforced in this state.History of Section.P.L. 1988, ch. 623, § 1.
RI Gen L § 18-13-20 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-13 - Rhode Island Uniform Custodial Trust Act|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.
RI Gen L § 18-13-21 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-13 - Rhode Island Uniform Custodial Trust Act|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.
RI Gen L § 18-13-22 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-13 - Rhode Island Uniform Custodial Trust Act|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 of Section.P.L. 1988, ch. 623, § 1.
RI Gen L § 18-14-1 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-14 - Uniform Testamentary Additions to Trusts Act|Section 18-14-1 - Short title.

§ 18-14-1. Short title.This chapter shall be known and cited as the "Uniform Testamentary Additions to Trusts Act".History of Section.P.L. 1994, ch. 352, § 1.
RI Gen L § 18-14-2 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-14 - Uniform Testamentary Additions to Trusts Act|Section 18-14-2 - Testamentary additions to trusts.

§ 18-14-2. Testamentary additions to trusts.(a) A will may validly devise or bequeath property to the trustee of a trust established or to be established:(1) During the testator's lifetime by the testator, by the testator and some other person, or by some other person, including a funded or unfunded life insurance trust, although the trustor has reserved any or all rights of ownership of the insurance contracts; or(2) At the testator's death by the testator's devise to the trustee, if the trust is identified in the testator's will and its terms are set forth in a written instrument, other than a will, executed before, concurrently with, or after the execution of the testator's will, or in another individual's will if that other individual has predeceased the testator, regardless of the existence, size, or character of the corpus of the trust.(b) The devise or bequest is not invalid because the trust is amendable or revocable, or because the trust was amended after the execution of the will or the testator's death.(c) Unless the testator's will provides otherwise, property devised or bequeathed to a trust described in subsection (a) of this section is not held under a testamentary trust of the testator but it becomes a part of the trust to which it is devised or bequeathed, and must be administered and disposed of in accordance with the provisions of the governing instrument setting forth the terms of the trust, including any amendments to it made before or after the testator's death.(d) Unless the testator's will provides otherwise, a revocation or termination of the trust before the testator's death causes the devise or bequest to lapse.History of Section.P.L. 1994, ch. 352, § 1.
RI Gen L § 18-14-3 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-14 - Uniform Testamentary Additions to Trusts Act|Section 18-14-3 - Effect on existing wills.

§ 18-14-3. Effect on existing wills.This chapter applies to a will of a testator who dies after July 12, 1994.History of Section.P.L. 1994, ch. 352, § 1.
RI Gen L § 18-14-4 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-14 - Uniform Testamentary Additions to Trusts Act|Section 18-14-4 - Uniformity of application and construction.

§ 18-14-4. 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 states enacting it.History of Section.P.L. 1994, ch. 352, § 1.
RI Gen L § 18-14-5 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-14 - Uniform Testamentary Additions to Trusts Act|Section 18-14-5 - Repealed.

§ 18-14-5. Repealed.History of Section.P.L. 1994, ch. 352, § 1; Repealed by P.L. 2004, ch. 6, § 53, effective April 14, 2004.
RI Gen L § 18-14-6 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-14 - Uniform Testamentary Additions to Trusts Act|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, § 1.
RI Gen L § 18-15-1 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|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 expanded, restricted, eliminated, or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.History of Section.P.L. 1996, ch. 276, § 1.
RI Gen L § 18-15-2 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|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 trustee's investment and management decisions respecting individual assets must be evaluated not in isolation but in the context of the trust portfolio as a whole and as part of an overall investment strategy having risk and return objectives reasonably suited to the trust.(c) Among circumstances that a trustee shall consider in investing and managing trust assets are any of the following that are relevant to the trust or its beneficiaries:(1) General economic conditions;(2) The possible effect of inflation or deflation;(3) The expected tax consequences of investment decisions or strategies;(4) The role that each investment or course of action plays within the overall trust portfolio, which may include financial assets, interests in closely held enterprises, tangible and intangible personal property, and real property;(5) The expected total return from income and the appreciation of capital;(6) Other resources of the beneficiaries;(7) Needs for liquidity, regularity of income, and preservation or appreciation of capital; and(8) An asset's special relationship or special value, if any, to the purposes of the trust or to one or more of the beneficiaries.(d) A trustee shall make a reasonable effort to verify facts relevant to the investment and management of trust assets.(e) A trustee may invest in any kind of property or type of investment consistent with the standards of this chapter.(f) A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, has a duty to use those special skills or expertise.History of Section.P.L. 1996, ch. 276, § 1.
RI Gen L § 18-15-3 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|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.
RI Gen L § 18-15-4 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|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 circumstances of the trust, and with the requirements of this chapter.History of Section.P.L. 1996, ch. 276, § 1.
RI Gen L § 18-15-5 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|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.
RI Gen L § 18-15-6 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|Section 18-15-6 - Impartiality.

§ 18-15-6. Impartiality.If a trust has two (2) or more beneficiaries, the trustee shall act impartially in investing and managing the trust assets, taking into account any differing interests of the beneficiaries.History of Section.P.L. 1996, ch. 276, § 1.
RI Gen L § 18-15-7 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|Section 18-15-7 - Investment costs.

§ 18-15-7. Investment costs.In investing and managing trust assets, a trustee may only incur costs that are appropriate and reasonable in relation to the assets, the purposes of the trust, and the skills of the trustee.History of Section.P.L. 1996, ch. 276, § 1.
RI Gen L § 18-15-8 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|Section 18-15-8 - Reviewing compliance.

§ 18-15-8. Reviewing compliance.Compliance with the prudent investor rule is determined in light of the facts and circumstances existing at the time of a trustee's decision or action and not by hindsight.History of Section.P.L. 1996, ch. 276, § 1.
RI Gen L § 18-15-9 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|Section 18-15-9 - Delegation of investment and management functions.

§ 18-15-9. Delegation of investment and management functions.(a) A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in:(1) Selecting an agent;(2) Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and(3) Periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the delegation.(b) In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation.(c) A trustee who complies with the requirements of subsection (a) of this section is not liable to the beneficiaries or to the trust for the decisions or actions of the agent to whom the function was delegated.(d) By accepting the delegation of a trust function from the trustee of a trust that is subject to the law of this state, an agent submits to the jurisdiction of the courts of this state.History of Section.P.L. 1996, ch. 276, § 1.
RI Gen L § 18-15-10 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|Section 18-15-10 - Language invoking standard of chapter.

§ 18-15-10. Language invoking standard of chapter.The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorize any investment or strategy permitted under this chapter: "investments permissible by law for investment of trust funds," "legal investments," "authorized investments," "using the judgment and care under the circumstances then prevailing that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital," "prudent man rule," "prudent trustee rule," "prudent person rule," and "prudent investor rule."History of Section.P.L. 1996, ch. 276, § 1.
RI Gen L § 18-15-11 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|Section 18-15-11 - Application to existing trusts.

§ 18-15-11. Application to existing trusts.This chapter applies to trusts existing on and created after August 6, 1996. As applied to trusts existing on its effective date, this chapter governs only decisions or actions occurring after that date.History of Section.P.L. 1996, ch. 276, § 1.
RI Gen L § 18-15-12 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|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.
RI Gen L § 18-15-13 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-15 - Rhode Island Uniform Prudent Investor Act|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.
RI Gen L § 18-16-1 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-16 - Rhode Island Short Form Power of Attorney Act|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 chapter.History of Section.P.L. 1996, ch. 375, § 1.
RI Gen L § 18-16-11 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-16 - Rhode Island Short Form Power of Attorney Act|Section 18-16-11 - Records, reports and statements.

§ 18-16-11. Records, reports and statements.(a) In a statutory short form power of attorney, the language conferring general authority with respect to records, reports and statements shall be construed to mean that the principal authorizes the agent:(1) To keep records of all cash received and disbursed for or on account of the principal, of all credits and debits to the account of the principal and of all transactions affecting in any way the assets and liabilities of the principal;(2) To prepare, execute and file all tax, social security, unemployment insurance and information returns, required by the laws of the United States, of any state or of any subdivision of it, or of any foreign government; to prepare, execute and file all other papers and instruments which the agent deems desirable or necessary for the safeguarding of the principal against excess or illegal taxation or against penalties imposed for claimed violation of any law or other governmental regulation;(3) To prepare, execute and file any record, report or statement, which the agent deems desirable or necessary for the safeguarding or maintenance of the principal's interest, with respect to price, rent, wage or rationing control, or other governmental activity;(4) To hire, discharge and compensate any attorney, accountant, or other assistant or assistants when the agent deems this action to be desirable for the proper execution by him or her of any of the powers described in this section; and(5) In general, and in addition to all the specific acts enumerated in this section, to do any other act or acts, which the principal can do through an agent, in connection with the preparation, execution, filing, storage or other utilization of any records, reports or statements of or concerning the principal's affairs.(b) All powers described in this section shall be equally exercisable with respect to any records, reports or statements of or concerning the affairs of the principal existing at the giving of the power of attorney or thereafter arising, whether arising in the state of Rhode Island or elsewhere.History of Section.P.L. 1996, ch. 375, § 1.
RI Gen L § 18-16-12 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-16 - Rhode Island Short Form Power of Attorney Act|Section 18-16-12 - Additional provisions authorized in form.

§ 18-16-12. Additional provisions authorized in form.A power of attorney which satisfies the requirements of § 18-16-2(b) is not prevented from being a statutory short form power of attorney, as that phrase is used in the sections of this chapter, by the fact that it also contains additional language which:(1) Eliminates from the power of attorney one or more of the powers enumerated in one or more of the constructional sections of this chapter with respect to a subdivision of the statutory short form power of attorney not eliminated from the form by the principal;(2) Supplements one or more of the powers enumerated in one or more of the constructional sections in this chapter with respect to a subdivision of the statutory short form power of attorney not eliminated from the form by the principal, by specifically listing additional powers of the agent; or(3) Makes some additional provision that is not inconsistent with the other provisions of the statutory short form power of attorney.History of Section.P.L. 1996, ch. 375, § 1.
RI Gen L § 19-1-2 (2021)
2021 Rhode Island General Laws|Title 19 - Financial Institutions|Chapter 19-1 - Definitions and Establishment of Financial Institutions|Section 19-1-2 - Repealed.

§ 19-1-2. Repealed.History of Section.P.L. 1995, ch. 82, § 38; P.L. 2001, ch. 180, § 20; P.L. 2006, ch. 332, § 1; P.L. 2006, ch. 435, § 1; Repealed by P.L. 2013, ch. 50, § 2, effective June 3, 2013; P.L. 2013, ch. 57, § 2, effective June 3, 2013.