§ 18-9-16. Termination of certain charitable trusts.
(a) A charitable trust with total assets of less than two hundred thousand dollars ($200,000) may be terminated at any time at the discretion of the trustee or trustees with the consent of the attorney general and the beneficiary or beneficiaries by delivery of the assets to the beneficiary or beneficiaries.
(b) Where the trustee or trustees have discretion in the selection of the beneficiary or beneficiaries, only the consent of the attorney general shall be required, and the discretion in the selection of the beneficiary or beneficiaries to receive the assets shall be exercised by the trustee or trustees.
(c) The beneficiary or beneficiaries to whom the trust estate shall be delivered shall hold and apply the trust estate for the uses and purposes set forth in this instrument.
History of Section.P.L. 1973, ch. 208, § 1; P.L. 1988, ch. 281, § 2; P.L. 1996, ch. 393, § 1; P.L. 2006, ch. 375, § 1; P.L. 2006, ch. 450, § 1.
Structure Rhode Island General Laws
Chapter 18-9 - Charitable Trusts
Section 18-9-1. - Division of charitable trusts — Establishment.
Section 18-9-2. - Administrator of charitable trusts.
Section 18-9-3. - Appointment and removal of assistants — Experts.
Section 18-9-4. - “Charitable trusts” defined.
Section 18-9-5. - Notice to attorney general of proceedings affecting charitable trusts.
Section 18-9-6. - Register of charitable trusts — Special assistant attorney general.
Section 18-9-7. - Register open to inspection — Registration fee.
Section 18-9-8. - Rules and regulations.
Section 18-9-9. - Investigations as to administration of trusts.
Section 18-9-10. - Notice to attend in investigations.
Section 18-9-11. - Court order to appear before attorney general — Contempt.
Section 18-9-12. - Privilege against self-incrimination unavailable — Immunity from prosecution.
Section 18-9-13. - Annual fiduciary’s report.
Section 18-9-14. - Reasonable care required regardless of language of trust.
Section 18-9-15. - Institutions and contingent trusts exempt.
Section 18-9-16. - Termination of certain charitable trusts.