Rhode Island General Laws 18-9-14. Reasonable care required regardless of language of trust
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Regardless of any language in the agreement, deed, or other instrument creating an inter vivos charitable trust, no trustee or trustees of a trust shall be exonerated from liability for failure to exercise reasonable care, diligence, and prudence.
History of Section.
P.L. 1950, ch. 2617, § 13; G.L. 1956, § 18-9-14.
Terms Used In Rhode Island General Laws 18-9-14
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Inter vivos: Transfer of property from one living person to another living person.
- Trustee: A person or institution holding and administering property in trust.