§ 18-5-4. Exemption of funds from taxation generally.
Except as provided in § 18-5-3, no common trust fund nor any asset of the fund, nor any trust company or national banking association by reason of its ownership or operation of the fund or asset, shall be subject to any tax now or subsequently levied, assessed, or imposed by the state of Rhode Island, or by any city, town, or other political subdivision of the state.
History of Section.P.L. 1956, ch. 3839, § 3; G.L. 1956, § 18-5-4; P.L. 1969, ch. 197, art. 7, § 2.
Structure Rhode Island General Laws
Chapter 18-5 - Common Trust Funds
Section 18-5-1. - Establishment by banks and trust companies authorized.
Section 18-5-2. - Definitions.
Section 18-5-3. - Property tax on assets.
Section 18-5-4. - Exemption of funds from taxation generally.
Section 18-5-6. - Relationships to which chapter applicable.