reglab/housing_qa huggingface dataset:
RI Gen L § 18-11-5 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-11 - Simplification of Fiduciary Security Transfers|Section 18-11-5 - Evidence of appointment or incumbency.

§ 18-11-5. Evidence of appointment or incumbency.A corporation or transfer agent making a transfer pursuant to an assignment by a fiduciary who is not the registered owner shall obtain the following evidence of appointment or incumbency:(1) In the case of a fiduciary appointed or qualified by a court, a certificate issued by or under the direction or supervision of that court or its officer and dated within sixty (60) days before the transfer; or(2) In any other case, a copy of a document showing the appointment or a certificate issued by or on behalf of a person reasonably believed by the corporation or transfer agent to be responsible or, in the absence of that document or certificate, other evidence reasonably deemed by the corporation or transfer agent to be appropriate. Corporations and transfer agents may adopt standards with respect to evidence of appointment or incumbency under this subdivision provided these standards are not manifestly unreasonable. Neither the corporation nor transfer agent is charged with notice of the contents of any document obtained pursuant to this subdivision, except to the extent that the contents relate directly to the appointment or incumbency.History of Section.P.L. 1959, ch. 85, § 5.
RI Gen L § 18-11-6 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-11 - Simplification of Fiduciary Security Transfers|Section 18-11-6 - Adverse claims.

§ 18-11-6. Adverse claims.(a) A person asserting a claim of beneficial interest adverse to the transfer of a security pursuant to an assignment by a fiduciary may give the corporation or transfer agent written notice of the claim. The corporation or transfer agent is not put on notice unless the written notice identifies the claimant, the registered owner, and the issue of which the security is a part, provides an address for communications directed to the claimant, and is received before the transfer. Nothing in this chapter relieves the corporation or transfer agent of any liability for making or refusing to make the transfer after it is put on notice, unless it proceeds in the manner authorized in subsection (b) of this section.(b) As soon as practicable after the presentation of a security for transfer pursuant to an assignment by a fiduciary, a corporation or transfer agent which has received notice of a claim of beneficial interest adverse to the transfer may send notice of the presentation by registered or certified mail to the claimant at the address given by the claimant. If the corporation or transfer agent mails the notice, it shall withhold the transfer for thirty (30) days after the mailing and shall then make the transfer unless restrained by a court order.History of Section.P.L. 1959, ch. 85, § 6.
RI Gen L § 18-11-7 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-11 - Simplification of Fiduciary Security Transfers|Section 18-11-7 - Non-liability of corporation and transfer agent.

§ 18-11-7. Non-liability of corporation and transfer agent.A corporation or transfer agent incurs no liability to any person by making a transfer or otherwise acting in a manner authorized by this chapter.History of Section.P.L. 1959, ch. 85, § 7.
RI Gen L § 18-11-8 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-11 - Simplification of Fiduciary Security Transfers|Section 18-11-8 - Non-liability of third persons.

§ 18-11-8. Non-liability of third persons.(a) No person who participates in the acquisition, disposition, assignment, or transfer of a security by or to a fiduciary, including a person who guarantees the signature of the fiduciary, is liable for participation in any breach of fiduciary duty by reason of failure to inquire whether the transaction involves a breach, unless it is shown that the person acted with actual knowledge that the proceeds of the transaction were being or were to be used wrongfully for the individual benefit of the fiduciary or that the transaction was otherwise in breach of duty.(b) If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary is not liable on the guarantee to any person to whom the corporation or transfer agent, by reason of this chapter, incurs no liability.(c) This section does not impose any liability upon the corporation or its transfer agent.History of Section.P.L. 1959, ch. 85, § 8.
RI Gen L § 18-11-9 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-11 - Simplification of Fiduciary Security Transfers|Section 18-11-9 - Territorial applicability.

§ 18-11-9. Territorial applicability.(a) The rights and duties of a corporation and its transfer agents in registering a security in the name of a fiduciary or in making a transfer of a security pursuant to an assignment by a fiduciary are governed by the law of the jurisdiction under whose laws the corporation is organized.(b) This chapter applies to the rights and duties of a person other than the corporation and its transfer agents with regard to acts and omissions in this state in connection with the acquisition, disposition, assignment, or transfer of a security by or to a fiduciary and of a person who guarantees in this state the signature of a fiduciary in connection with this transaction.History of Section.P.L. 1959, ch. 85, § 9.
RI Gen L § 18-11-10 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-11 - Simplification of Fiduciary Security Transfers|Section 18-11-10 - Tax obligations.

§ 18-11-10. Tax obligations.This chapter does not affect any obligation of a corporation or transfer agent with respect to estate, inheritance, succession, or other taxes imposed by the laws of this state.History of Section.P.L. 1959, ch. 85, § 10.
RI Gen L § 18-11-11 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-11 - Simplification of Fiduciary Security Transfers|Section 18-11-11 - Uniformity of law.

§ 18-11-11. Uniformity of law.This chapter shall be construed to effectuate its general purpose to make uniform the law of those states which enact it.History of Section.P.L. 1959, ch. 85, § 11.
RI Gen L § 18-12-1 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12 - Uniform Management of Institutional Funds|Section 18-12-1 - Repealed.

§ 18-12-1. Repealed.History of Section.P.L. 1972, ch. 260, § 1; P.L. 1974, ch. 114, § 1; P.L. 1976, ch. 154, § 1; Repealed by P.L. 2009, ch. 61, § 1; P.L. 2009, ch. 63, § 1, effective June 30, 2009. For comparable provisions, see chapter 12.1 of this title.
RI Gen L § 18-12-2 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12 - Uniform Management of Institutional Funds|Section 18-12-2 - Repealed.

§ 18-12-2. Repealed.History of Section.P.L. 1972, ch. 260, § 1; P.L. 1976, ch. 154, § 2; Repealed by P.L. 2009, ch. 61, § 1; P.L. 2009, ch. 63, § 1, effective June 30, 2009. For comparable provisions, see chapter 12.1 of this title.
RI Gen L § 18-12-3 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12 - Uniform Management of Institutional Funds|Section 18-12-3 - Repealed.

§ 18-12-3. Repealed.History of Section.P.L. 1972, ch. 260, § 1; Repealed by P.L. 2009, ch. 61, § 1; P.L. 2009, ch. 63, § 1, effective June 30, 2009. For comparable provisions, see chapter 12.1 of this title.
RI Gen L § 18-12-4 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12 - Uniform Management of Institutional Funds|Section 18-12-4 - Repealed.

§ 18-12-4. Repealed.History of Section.P.L. 1972, ch. 260, § 1; Repealed by P.L. 2009, ch. 61, § 1; P.L. 2009, ch. 63, § 1, effective June 30, 2009. For comparable provisions, see chapter 12.1 of this title.
RI Gen L § 18-12-5 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12 - Uniform Management of Institutional Funds|Section 18-12-5 - Repealed.

§ 18-12-5. Repealed.History of Section.P.L. 1972, ch. 260, § 1; Repealed by P.L. 2009, ch. 61, § 1; P.L. 2009, ch. 63, § 1, effective June 30, 2009. For comparable provisions, see chapter 12.1 of this title.
RI Gen L § 18-12-6 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12 - Uniform Management of Institutional Funds|Section 18-12-6 - Repealed.

§ 18-12-6. Repealed.History of Section.P.L. 1972, ch. 260, § 1; Repealed by P.L. 2009, ch. 61, § 1; P.L. 2009, ch. 63, § 1, effective June 30, 2009. For comparable provisions, see chapter 12.1 of this title.
RI Gen L § 18-12-7 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12 - Uniform Management of Institutional Funds|Section 18-12-7 - Repealed.

§ 18-12-7. Repealed.History of Section.P.L. 1972, ch. 260, § 1; Repealed by P.L. 2009, ch. 61, § 1; P.L. 2009, ch. 63, § 1, effective June 30, 2009. For comparable provisions, see chapter 12.1 of this title.
RI Gen L § 18-12-8 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12 - Uniform Management of Institutional Funds|Section 18-12-8 - Repealed.

§ 18-12-8. Repealed.History of Section.P.L. 1972, ch. 260, § 1; Repealed by P.L. 2009, ch. 61, § 1; P.L. 2009, ch. 63, § 1, effective June 30, 2009. For comparable provisions, see chapter 12.1 of this title.
RI Gen L § 18-12-9 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12 - Uniform Management of Institutional Funds|Section 18-12-9 - Repealed.

§ 18-12-9. Repealed.History of Section.P.L. 1972, ch. 260, § 1; Repealed by P.L. 2009, ch. 61, § 1; P.L. 2009, ch. 63, § 1, effective June 30, 2009. For comparable provisions, see chapter 12.1 of this title.
RI Gen L § 18-12.1-1 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12.1 - Uniform Prudent Management of Institutional Funds Act|Section 18-12.1-1 - Short title.

§ 18-12.1-1. Short title.This chapter shall be known and may be cited as the "Uniform Prudent Management of Institutional Funds Act."History of Section.P.L. 2009, ch. 61, § 2; P.L. 2009, ch. 63, § 2.
RI Gen L § 18-12.1-2 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12.1 - Uniform Prudent Management of Institutional Funds Act|Section 18-12.1-2 - Definitions.

§ 18-12.1-2. Definitions.As used in this chapter:(1) "Charitable purpose" means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community.(2) "Endowment fund" means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment fund for its own use.(3) "Gift instrument" means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund.(4) "Institution" means:(i) a person, other than an individual, organized and operated exclusively for charitable purposes;(ii) a government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose; or(iii) a trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated.(5) "Institutional fund" means a fund held by an institution exclusively for charitable purposes. The term does not include:(i) program-related assets;(ii) a fund held for an institution by a trustee that is not an institution; or(iii) a fund in which a beneficiary that is not an institution has an interest, other than an interest that could arise upon violation or failure of the purposes of the fund.(6) "Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.(7) "Program-related asset" means an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for investment.(8) "Record" means information that is inscribed on a tangible medium, or that is stored in an electronic or other medium, and is retrievable in perceivable form.History of Section.P.L. 2009, ch. 61, § 2; P.L. 2009, ch. 63, § 2.
RI Gen L § 18-12.1-4 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12.1 - Uniform Prudent Management of Institutional Funds Act|Section 18-12.1-4 - Appropriation for expenditure or accumulation of endowment fund; rules of construction.

§ 18-12.1-4. Appropriation for expenditure or accumulation of endowment fund; rules of construction.(a) Subject to the intent of a donor expressed in the gift instrument [and to subsection (d)], an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. Unless stated otherwise in the gift instrument, the assets in an endowment fund are donor-restricted assets until appropriated for expenditure by the institution. In making a determination to appropriate or accumulate, the institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, and shall consider, if relevant, the following factors:(1) The duration and preservation of the endowment fund;(2) The purposes of the institution and the endowment fund;(3) General economic conditions;(4) The possible effect of inflation or deflation;(5) The expected total return from income and the appreciation of investments;(6) Other resources of the institution; and(7) The investment policy of the institution.(b) To limit the authority to appropriate for expenditure or accumulate under subsection (a), a gift instrument must specifically state the limitation.(c) Terms in a gift instrument designating a gift as an endowment, or a direction or authorization in the gift instrument to use only "income", "interest", "dividends", or "rents, issues, or profits", or "to preserve the principal intact", or words similar import:(1) Create an endowment fund of permanent duration unless other language in the gift instrument limits the duration or purpose of the fund; and(2) Do not otherwise limit the authority to appropriate for expenditure or accumulate under subsection (a).(d) The appropriation for expenditure in any year of an amount greater than seven (7%) percent of the fair market value of an endowment fund, calculated on the basis of market values determined at least quarterly and averaged over a period of not less than three (3) years immediately preceding the year in which the appropriation for expenditure is made, creates a rebuttable presumption of imprudence. For an endowment fund in existence for fewer than three (3) years, the fair market value of the endowment fund must be calculated for the period the endowment fund has been in existence. This subsection does not:(1) Apply to an appropriation for expenditure permitted under law other than this chapter or by the gift instrument; or(2) Create a presumption of prudence for an appropriation for expenditure of an amount less than or equal to seven (7%) percent of the fair market value of the endowment fund.History of Section.P.L. 2009, ch. 61, § 2; P.L. 2009, ch. 63, § 2.
RI Gen L § 18-12.1-5 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12.1 - Uniform Prudent Management of Institutional Funds Act|Section 18-12.1-5 - Delegation of management and investment functions.

§ 18-12.1-5. Delegation of management and investment functions.(a) Subject to any specific limitation set forth in a gift instrument or in law other than this chapter, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, in:(1) Selecting an agent;(2) Establishing the scope and terms of the delegation, consistent with the purposes of the institution and the institutional fund; and(3) Periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the scope and terms of the delegation.(b) In performing a delegated function, an agent owes a duty to the institution to exercise reasonable care to comply with the scope and terms of the delegation.(c) An institution that complies with subsection (a) is not liable for the decisions or actions of an agent to which the function was delegated.(d) By accepting delegation of a management or investment function from an institution that is subject to the laws of this state, an agent submits to the jurisdiction of the courts of this state in all proceedings arising from or related to the delegation or the performance of the delegated function.(e) An institution may delegate management and investment functions to its committees, officers, or employees as authorized by law of this state other than this chapter.History of Section.P.L. 2009, ch. 61, § 2; P.L. 2009, ch. 63, § 2.
RI Gen L § 18-12.1-6 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12.1 - Uniform Prudent Management of Institutional Funds Act|Section 18-12.1-6 - Release or modification of restrictions on management, investment, or purpose.

§ 18-12.1-6. Release or modification of restrictions on management, investment, or purpose.(a) If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund. A release or modification may not allow a fund to be used for a purpose other than a charitable purpose of the institution.(b) The court, upon application of an institution, may modify a restriction contained in a gift instrument regarding the management or investment of an institutional fund if the restriction has become impracticable or wasteful, if it impairs the management or investment of the fund, or if, because of circumstances not anticipated by the donor, a modification of restriction will further the purposes of the fund. The institution shall notify the attorney general of the application, and the attorney general must be given an opportunity to be heard. To the extent practicable, any modification must be made in accordance with the donor's probable intention.(c) If a particular charitable purpose or a restriction contained in a gift instrument on the use of an institutional fund becomes unlawful, impracticable, impossible to achieve, or wasteful, the court, upon application of an institution, may modify the purpose of the fund or the restriction on the use of the fund in a manner consistent with the charitable purposes expressed in the gift instrument. The institution shall notify the attorney general of the application, and the attorney general must be given an opportunity to be heard.(d) If an institution determines that a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund is unlawful, impracticable, impossible to achieve, or wasteful, the institution, sixty (60) days after notification to the attorney general, may release or modify the restriction, in whole or part, if:(1) The institutional fund subject to the restriction has a total value of less than twenty-five thousand dollars ($25,000);(2) More than twenty (20) years have elapsed since the fund was established; and(3) The institution uses the property in a manner consistent with the charitable purposes expressed in the gift instrument.History of Section.P.L. 2009, ch. 61, § 2; P.L. 2009, ch. 63, § 2.
RI Gen L § 18-12.1-7 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12.1 - Uniform Prudent Management of Institutional Funds Act|Section 18-12.1-7 - Reviewing compliance.

§ 18-12.1-7. Reviewing compliance.Compliance with this chapter is determined in light of the facts and circumstances existing at the time a decision is made or action is take, and not by hindsight.History of Section.P.L. 2009, ch. 61, § 2; P.L. 2009, ch. 63, § 2.
RI Gen L § 18-12.1-8 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12.1 - Uniform Prudent Management of Institutional Funds Act|Section 18-12.1-8 - Application to existing institutional funds.

§ 18-12.1-8. Application to existing institutional funds.This chapter applies to institutional funds existing on or established after the effective date of this chapter. As applied to institutional funds existing on the effective date of this chapter, this chapter governs only decisions made or actions taken on or after that date.History of Section.P.L. 2009, ch. 61, § 2; P.L. 2009, ch. 63, § 2.
RI Gen L § 18-12.1-9 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12.1 - Uniform Prudent Management of Institutional Funds Act|Section 18-12.1-9 - Relation to Electronic Signatures in Global and National Commerce Act.

§ 18-12.1-9. Relation to Electronic Signatures in Global and National Commerce Act.This chapter modified, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede § 101 of that act, 15 U.S.C. § 7001(a), or authorize electronic delivery of any of the notices described in § 103 of that act, 15 U.S.C. § 7003(b).History of Section.P.L. 2009, ch. 61, § 2; P.L. 2009, ch. 63, § 2.
RI Gen L § 18-12.1-10 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-12.1 - Uniform Prudent Management of Institutional Funds Act|Section 18-12.1-10 - Uniformity of application and construction.

§ 18-12.1-10. Uniformity of application and construction.In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.History of Section.P.L. 2009, ch. 61, § 2; P.L. 2009, ch. 63, § 2.