Rhode Island § 18-4-5 § 18-4-5. Effect of trustee's receipt.

Rhode Island Statutes

§ 18-4-5 — § 18-4-5. Effect of trustee's receipt.

Rhode Island § 18-4-5

Title 18Fiduciaries

Ch. 18-4Powers of Fiduciaries

This text of Rhode Island § 18-4-5 (§ 18-4-5. Effect of trustee's receipt.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 18-4-5 (2026).

Text

§ 18-4-5. Effect of trustee's receipt.
(a) The receipt in writing of any trustees or trustee for any money, securities, or other
            personal property or effects, payable, transferable, or deliverable to them, him,
            her, or it, under any trust or power, expressly including purchase money and loans,
            shall be a sufficient discharge for the personal property or effects, and shall effectually
            exonerate the person paying, transferring, or delivering the personal property or
            effects from seeing to the application, or being answerable for any loss or misapplication.
         
(b) This section applies to trusts previously or subs

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§ 18-4-5. Effect of trustee's receipt.

(a) The receipt in writing of any trustees or trustee for any money, securities, or other personal property or effects, payable, transferable, or deliverable to them, him, her, or it, under any trust or power, expressly including purchase money and loans, shall be a sufficient discharge for the personal property or effects, and shall effectually exonerate the person paying, transferring, or delivering the personal property or effects from seeing to the application, or being answerable for any loss or misapplication.

(b) This section applies to trusts previously or subsequently created.