§ 18-13-8. General powers of custodial trustee.
(a) A custodial trustee, acting in a fiduciary capacity, has all the rights and powers over custodial trust property which an unmarried adult owner has over individually owned property, but a custodial trustee may only exercise those rights and powers in a fiduciary capacity.
(b) This section does not relieve a custodial trustee from liability for a violation of § 18-13-7.
History of Section.P.L. 1988, ch. 623, § 1.
Structure Rhode Island General Laws
Chapter 18-13 - Rhode Island Uniform Custodial Trust Act
Section 18-13-1. - Definitions.
Section 18-13-2. - Custodial trust — General.
Section 18-13-3. - Custodial trustee for future payment or transfer.
Section 18-13-4. - Form and effect of receipt and acceptance by custodial trustee — Jurisdiction.
Section 18-13-5. - Transfer to custodial trustee by fiduciary or obligor — Facility of payment.
Section 18-13-6. - Multiple beneficiaries — Separate custodial trusts — Survivorship.
Section 18-13-7. - General duties of custodial trustee.
Section 18-13-8. - General powers of custodial trustee.
Section 18-13-9. - Use of custodial trust property.
Section 18-13-10. - Determination of incapacity — Effect.
Section 18-13-11. - Exemption of third person from liability.
Section 18-13-12. - Liability to third person.
Section 18-13-14. - Expenses, compensation, and bond of custodial trustee.
Section 18-13-16. - Limitations of action against custodial trustee.
Section 18-13-17. - Distribution on termination.
Section 18-13-18. - Methods and forms for creating custodial trusts.
Section 18-13-19. - Applicable law.
Section 18-13-20. - Uniformity of application of construction.