(a)  Subject to subsection (c) of this section, a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to § 18-7-10, in the absence of a will or under a will or trust that does not contain an authorization to do so.

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Terms Used In Rhode Island General Laws 18-7-7

(b)  Subject to subsection (c) of this section, a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to § 18-7-10.

(c)  A transfer under subsection (a) or (b) of this section may be made only if:

(1)  The personal representative, trustee, or conservator considers the transfer to be in the best interest of the minor;

(2)  The transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, or other governing instrument; and

(3)  The transfer is authorized by the court if it exceeds ten thousand dollars ($10,000) in value.

History of Section.
P.L. 1985, ch. 389, § 2.