reglab/housing_qa huggingface dataset:
RI Gen L § 18-4-27 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4 - Powers of Fiduciaries|Section 18-4-27 - Validity of trusts.

§ 18-4-27. Validity of trusts.(a) A trust which is otherwise valid and which has been created by a written instrument, including, but not limited to, a trust in which the principal is composed in whole or in part of real property, shall not be held invalid for any one or more of the following reasons:(1) Because the settlor, or another person, or both, possess the power to revoke, amend, alter, or modify the trust in whole or in part;(2) Because the settlor, or another person, or both, possess the power to appoint, by deed or will, the persons and organizations to whom the income shall be paid or the principal distributed;(3) Because the settlor, or another person, or both, possess the power to add to, or withdraw from, the trust all or any part of the principal or income at one or at different times;(4) Because the settlor, or another person, or both, possess the power to remove the trustee or trustees and appoint a successor trustee or trustees;(5) Because the settlor has retained the right to receive all or part of the income of the trust during his or her life or for any part of his or her life; or(6) Because the settlor is the sole trustee and the sole current beneficiary of the trust during his or her lifetime.(b) This section shall apply to all trusts created by written instrument, except where the validity of the trust is in issue in a case pending on August 11, 1995.(c) The doctrine of merger shall not apply to invalidate an otherwise valid revocable or irrevocable trust unless the legal title to the trust property and the entire beneficial interest, including future and contingent beneficial interests, become irrevocably united in one person who is not under an incapacity.(d) If the beneficiary of a spendthrift trust having the entire beneficial interest in the trust property becomes without his or her consent the sole trustee, the beneficiary may procure the appointment of a new trustee and have the trust reconstituted.(e) Nothing contained in this section shall affect the validity of those accounts, including, but not limited to, bank accounts, share accounts, deposits, certificates of deposit, savings certificates, and other similar arrangements, previously or subsequently established at any bank, savings and loan association, or credit union by one or more persons, in trust for one or more other persons.History of Section.P.L. 1995, ch. 389, § 1; P.L. 2000, ch. 109, § 29.
RI Gen L § 18-4-29 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4 - Powers of Fiduciaries|Section 18-4-29 - Total return unitrusts - Alternative definition of income.

§ 18-4-29. Total return unitrusts — Alternative definition of income.(a) The following provisions shall apply to a trust which by its governing instrument, pursuant to court reformation or pursuant to adjustment in accordance with § 18-4-28 requires the distribution at least annually of an amount equal to a fixed percentage of not less than three percent (3%) nor more than five percent (5%) per year of the net fair market value of the trust's assets (the "Unitrust Amount") valued at least annually, such trust to be referred to as a "Total Return Unitrust":(1) The Unitrust Amount may be determined by reference to the net fair market value of the trust's assets in one year or more than one year.(2) Distribution of such a fixed percentage Unitrust Amount is considered a distribution of all of the income of the Total Return Unitrust and shall not be considered a fundamental departure from state law.(3) Such a distribution of the fixed percentage of not less than three percent (3%) not more than five percent (5%) is considered to be a reasonable apportionment of the total return of a Total Return Unitrust.(4) A Total Return Unitrust that provides for a fixed percentage in excess of five percent (5%) per year shall be considered to have paid out all of the income of the Total Return Unitrust, and to have paid out principal of the Total Return Unitrust to the extent that the fixed percentage payout exceeds five percent (5%) per year.(5) The governing instrument (including any changes effected by court reformation) may or may not grant discretion to the trustee to adopt a consistent practice of treating capital gains as part of the unitrust distribution, to the extent that the Unitrust Amount exceeds the net accounting income, or it may specify the ordering of such classes of income.(b) Unless the terms of the governing instrument (including any changes effected by court reformation) specifically provide otherwise or grant discretion to the trustee as set forth above, a distribution of the Unitrust Amount shall be considered to have been made from the following sources in order of priority:(1) From ordinary income determined as if the trust were not a unitrust;(2) From ordinary income not allocable to net accounting income;(3) From net realized short-term capital gains;(4) From net realized long-term capital gains; and(5) From the principal of the trust estate.(c) The governing instrument (including any changes effected by court reformation or adjustment by the trustee) may provide that assets used by the trust beneficiary, such as residence property or tangible personal property, may be excluded from the net fair market value for computing to the Unitrust Amount. Such use may be considered equivalent to income or the Unitrust Amount.History of Section.P.L. 2006, ch. 168, § 1; P.L. 2006, ch. 191, § 1.
RI Gen L § 18-4-30 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4 - Powers of Fiduciaries|Section 18-4-30 - Representation by person having substantially identical interest.

§ 18-4-30. Representation by person having substantially identical interest.In any action involving wills, estates, trusts or fiduciaries in the Probate Court or the Superior Court, a minor, an incapacitated person or an unborn or unascertained person whose identity and location is unknown and not reasonably ascertainable, unless otherwise represented, may be represented by and bound by another having a substantially identical interest with respect to the particular question or dispute, but only to the extent that:(1) The person's interest is adequately represented; and(2) There is no conflict of interest between the representative and the person represented.History of Section.P.L. 2006, ch. 167, § 1; P.L. 2006, ch. 190, § 1.
RI Gen L § 18-4.1-1 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-1 - Short title.

§ 18-4.1-1. Short title.This chapter shall be known and may be cited as "The Public Radio Conversions Act."History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-2 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-2 - Findings.

§ 18-4.1-2. Findings.The general assembly finds and declares that:(1) Public radio stations in Rhode Island contribute uniquely and substantially to the cultural, educational and journalistic quality of life in Rhode Island;(2) Rhode Island's existing public radio stations have been built and maintained through the charitable contributions of thousands of Rhode Island individuals, foundations and businesses who expected that their contributions would be used to maintain and improve public radio stations in Rhode Island;(3) Consolidation in commercial radio and other media has reduced the number of Rhode Island owned and operated cultural, educational and news organizations;(4) Rhode Island public radio stations are under particular challenge because the lawful but dominant signal strength and broadcasting priority of television's broadcast channel six limits the signal strength of virtually all noncommercial radio licenses in Rhode Island, thereby limiting the technical ability of Rhode Island public radio stations to serve the entire state through a single noncommercial radio license;(5) Public radio stations that do not operate on frequencies reserved for noncommercial broadcasting may easily be sold to for-profit entities that do maintain public radio programs;(6) Donations to Rhode Island charities are given with the intent that each charity will use the donations to support the charity's mission as long as the charity and mission are viable; and(7) In order to protect public welfare and public and charitable assets, and ensure that Rhode Islanders' gifts to Rhode Island public radio stations are used for their intended purposes, it is necessary to establish standards and procedures that result in recoupment of public investment through the assessment of a conversion fee to create the financial infrastructure to replicate public radio programming that may be lost in the sale of a public station to a commercial operator.History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-3 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-3 - Purpose.

§ 18-4.1-3. Purpose.The purpose of this chapter is to:(1) Assure Rhode Islanders retain or expand access to high quality public radio station programming;(2) Establish a process to evaluate, monitor and review whether the conversion of a public radio station to a commercial station is consistent with the intentions of Rhode Island donors whose contributions had made the noncommercial station viable;(3) Establish a review process for determining whether assessment of a conversion fee is appropriate in a public radio station conversion;(4) Clarify the jurisdiction and the authority of the department of attorney general to preserve and protect public and charitable assets in reviewing public radio station conversions; and(5) Provide for independent organizations to hold, spend and/or distribute the conversion fee for public radio station conversions that the attorney general considers not to provide a community benefit.History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-5 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-5 - Notice and Conversion Fee.

§ 18-4.1-5. Notice and Conversion Fee.(a) The transacting parties shall notify the department of attorney general within five (5) business days after entering into an agreement for conversion of public radio station, and in no event later than the date on which an application to transfer, assign or amend the license of a public radio station to permit commercial operations is filed with the FCC. In the event the department of attorney general concludes that a conversion has occurred and did not constitute a community benefit, or a conversion is proposed to occur and will likely not constitute a community benefit, the department of attorney general shall have the authority to order the acquirer to pay to an organization pursuant to § 18-4.1-11 below, a conversion fee upon consummation of the conversion of an amount not to exceed the sum of all donations made to the acquiree related to its public radio station since its inception, plus two (2) times the average annual revenue received by the acquiree related to its public radio station during the preceding three (3) years. The amount of the conversion fee should be sufficient in the attorney general's opinion, to finance production of the public radio programming lost in the conversion. In order to evaluate whether the conversion constitutes a community benefit, the transacting parties shall be entitled to file such information with the department of attorney general as they may elect and as the department of attorney general may request.(b) Two (2) copies of the initial application shall be addressed to the attorney general, and sent to the department of attorney general either by hand (provided the deliverer obtains a receipt from the department of attorney general for the delivery) or by United States mail, certified, return receipt requested.(c) Except for information determined by the attorney general in accordance with § 18-4.1-14 to be confidential and/or proprietary, or otherwise required by law to be maintained as confidential, the initial application and supporting documentation shall be considered public records and shall be available for inspection upon request.History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-7 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-7 - Reports, use of experts, costs.

§ 18-4.1-7. Reports, use of experts, costs.The department of attorney general may in effectuating the purposes of this chapter engage experts or consultants including, but not limited to, actuaries, investment bankers, accountants, attorneys, or industry analysts. All copies of reports prepared by experts and consultants, and costs associated with the reports, shall be made available to the transacting parties and to the public. All costs incurred under this provision, including internal attorney general costs, shall be the responsibility of one or more transacting parties in an amount to be determined by the attorney general as he or she deems appropriate. No filing made pursuant to the requirements of this chapter shall be considered complete unless an agreement has been executed with the attorney general for the payment of costs in accordance with this section.History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-8 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-8 - Investigations - Notice to attend - Court order to appear - Contempt.

§ 18-4.1-8. Investigations — Notice to attend — Court order to appear — Contempt.(a) The attorney general may conduct investigations in discharging the duties required under this chapter. For purposes of this investigation the attorney general may require any person, agent, trustee, fiduciary, consultant, institution, association, or corporation directly related to the proposed conversion to appear at any time and place that the attorney general may designate, then and there under oath to produce for the use of the attorney general any and all documents and any other information relating directly to the proposed conversion that the attorney general may require.(b) Whenever the attorney general may require the attendance of any person as provided in subsection (a), the attorney general shall issue a notice setting the time and place when the attendance is required and shall cause the notice to be delivered or sent by registered or certified mail to the person at least fourteen (14) days before the date fixed in the notice for the attendance.(c) If any person receiving notice pursuant to this provision neglects to attend or remain in attendance so long as may be necessary for the purposes which the notice was issued, or refuses to produce information requested, any justice of the superior court for the county within which the inquiry is carried on or within which the person resides or transacts business, upon filing by the attorney general, or any transacting party shall have jurisdiction to hear and consider on an expedited basis the request, and if appropriate and relevant to the consideration of proposed conversion, may issue to the person an order requiring the person to appear before the attorney general there to produce for the use of the attorney general evidence in accordance with the terms of the order of the court, and any failure to obey the order of the superior court may be punished by the court as contempt of court.History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-9 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-9 - Perjury.

§ 18-4.1-9. Perjury.Any person who is found to have testified falsely under oath before the legislature, or the attorney general pursuant to this chapter shall be subject to prosecution for perjury and be subject to the penalties set forth in § 18-4.1-13.History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-10 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-10 - No derogation of attorney general.

§ 18-4.1-10. No derogation of attorney general.(a) No provision of this chapter shall derogate from the common law or statutory authority of the attorney general nor shall any provision be construed as a limitation on the common law or statutory authority of the attorney general, including the authority to investigate at any time charitable trusts for the purpose of determining and ascertaining whether they are being administered in accordance with law and with the terms and purpose thereof.(b) No provision of this chapter shall be construed as a limitation on the filing of the doctrine of cy pres or any other legal doctrine applicable to charitable assets and/or charitable trusts.History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-11 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-11 - Distribution of conversion fee - Selection of a charitable organization by superior court.

§ 18-4.1-11. Distribution of conversion fee — Selection of a charitable organization by superior court.Any conversion fee shall be awarded by the superior court to an existing or newly formed legal entity that is a nonprofit corporation organized under chapter 6 of title 7, is exempt from taxation under Section 501(a) of the United States Internal Revenue Code as an organization described in Section 501(c)(3) of such code and has as its primary purpose to promote and/or operate public radio stations in Rhode Island.History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-12 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-12 - Whistleblower protections.

§ 18-4.1-12. Whistleblower protections.(a) Prohibition against discrimination. No person subject to the provisions of this chapter, may discharge, demote, threaten or otherwise discriminate against any person or employee with respect to compensation, terms, conditions, or privileges of employment as a reprisal because the person or employee (or any person acting pursuant to the request of the employee) provided or attempted to provide information to the attorney general or his or her designee regarding possible violation or failure to satisfy the approval criteria of this chapter.(b) Enforcement. Any person or employee or former employee subject to the provisions of this chapter who believes that he or she has been discharged or discriminated against in violation of subsection (a) may file a civil action within three (3) years of the date of discharge or discrimination.(c) Remedies. If the court determines that a violation has occurred, the court may order the person who committed the violation to:(1) Reinstate the employee to the employee's former position;(2) Pay compensatory damages, costs of litigation and attorneys' fees; and/or(3) Take other appropriate actions to remedy any past discrimination.(d) Limitation. The protections of this section shall not apply to any person or employee who:(1) Deliberately causes or participates in the alleged violation of law or regulation; or(2) Knowingly or recklessly provides substantially false information to the attorney general or his or her designee.History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-13 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-13 - Failure to comply - Penalties.

§ 18-4.1-13. Failure to comply — Penalties.If any person knowingly violates or fails to comply with any provision of this chapter or willingly or knowingly gives false or incorrect information, the superior court may, after notice and opportunity for a prompt and fair hearing, impose a fine of not more than one million dollars ($1,000,000).History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-14 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-14 - Disclosure of documents.

§ 18-4.1-14. Disclosure of documents.The attorney general has the power to decide whether any information required by this chapter of a filer is confidential and/or proprietary. The decisions by the attorney general shall be made prior to any public notice of information filed pursuant to this chapter or any public reviews of any information and shall be binding on the attorney general and all experts or consultants engaged by the attorney general.History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-15 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-15 - Severability.

§ 18-4.1-15. Severability.If any provision of this chapter or the filing of any provision to any person or circumstances is held invalid, that invalidity shall not affect other provisions or applications of the chapter, which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are declared to be severable.History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-4.1-16 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-4.1 - The Public Radio Conversions Act|Section 18-4.1-16 - Judicial review.

§ 18-4.1-16. Judicial review.Any transacting party aggrieved by a final order of the attorney general under this chapter may seek judicial review by original action filed in the superior court.History of Section.P.L. 2005, ch. 211, § 1; P.L. 2005, ch. 369, § 1.
RI Gen L § 18-5-1 (2021)
2021 Rhode Island General Laws|Title 18 - Fiduciaries|Chapter 18-5 - Common Trust Funds|Section 18-5-1 - Establishment by banks and trust companies authorized.

§ 18-5-1. Establishment by banks and trust companies authorized.(a) Any trust company or national banking association qualified to act as a fiduciary in this state may establish one or more common trust funds for the purpose of investment and reinvestment of money received and held by the trust company or national banking association as fiduciary or cofiduciary, and as the fiduciary or cofiduciary it may invest funds which it lawfully holds for investment in interests or participations in one or more common trust funds established by it, if the investment is not expressly prohibited by the instrument, judgment, decree, or order creating the fiduciary relationship and if, in the case of cofiduciaries, it procures the consent of its cofiduciary or cofiduciaries to the investment.(b) Any trust company or national banking association qualified to act as a fiduciary in this state may invest funds which it holds in a fiduciary or cofiduciary capacity in any common trust fund established by any affiliate, if the investment is not expressly prohibited by the instrument, judgment, decree, or order creating the fiduciary relationship and if, in the case of cofiduciaries, it procures the consent of its cofiduciary or cofiduciaries to the investment.History of Section.P.L. 1956, ch. 3839, § 1; G.L. 1956, § 18-5-1; P.L. 1988, ch. 306, § 1; P.L. 1991, ch. 95, § 1.