Rhode Island General Laws 18-7-14. Powers of custodian
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(a) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their own property, but a custodian may exercise those rights, powers, and authority in that capacity only.
Terms Used In Rhode Island General Laws 18-7-14
- Adult: means an individual who has attained the age of twenty-one (21) years. See Rhode Island General Laws 18-7-2
- Custodial property: means :
(i) Any interest in property transferred to a custodian under this chapter; and
(ii) The income from and proceeds of that interest in property. See Rhode Island General Laws 18-7-2
- Custodian: means a person designated under § 18-7-10 or a successor or substitute custodian designated under § 18-7-19. See Rhode Island General Laws 18-7-2
(b) This section does not relieve a custodian from liability for breach of § 18-7-13.
History of Section.
P.L. 1985, ch. 389, § 2.