§ 33-15-35. Investment of surplus funds — Relief from bond requirements.
Limited guardians or guardians may be authorized to invest any money in their hands, not needed for the payment of debts, or for the support, or education of their wards, in notes secured by mortgage upon unincumbered, improved real estate situated in this state, or in the bonds or other indebtedness of the United States or of this state, or in the bonds or notes of any city or town in this state, or in the stock of any domestic building and loan association or federal savings and loan association doing business in this state approved by the probate court, or to make deposits of money in any savings bank or trust company in this state approved by the probate court, as he or she shall deem best for the interest of his or her ward. Limited guardians or guardians may also, under the direction of the probate court, invest any money in real estate or bank stocks in this state or in any other safe income producing securities as the probate court may approve; and if a limited guardian or guardian has so deposited any money in any savings bank or trust company or invested money in stock of any association and deposited with the clerk of the probate court the savings bankbook, share certificate or other evidence of deposit or investment, to be held subject to the order of the court, the probate court in its discretion may relieve the limited guardian or guardian of the requirement of surety on his or her bond if the deposit or investment is not in excess of ten thousand dollars ($10,000) and constitutes all of the property of his or her ward, or if there be other property, reduce the amount of his or her bond by the amount of the deposit or investment, but by not in excess of ten thousand dollars ($10,000).
History of Section.C.P.A. 1905, § 1073; G.L. 1909, ch. 321, § 33; G.L. 1923, ch. 372, § 32; G.L. 1938, ch. 426, § 32; P.L. 1955, ch. 3495, § 1; G.L. 1956, § 33-15-35; P.L. 1992, ch. 493, § 3.
Structure Rhode Island General Laws
Title 33 - Probate Practice and Procedure
Chapter 33-15 - Limited Guardianship and Guardianship of Adults
Section 33-15-1. - Legislative intent.
Section 33-15-1.1. - Repealed.
Section 33-15-2. - Petition for appointment of a limited guardian or guardian.
Section 33-15-3. - Power of probate court to appoint limited guardians or guardians.
Section 33-15-4. - Limited guardianship.
Section 33-15-4.1. - Good Samaritan guardians.
Section 33-15-4.2. - Waiver of filing fees for good Samaritan guardianships.
Section 33-15-4.3. - No cash surety required.
Section 33-15-4.4. - Immunity of good Samaritan guardians.
Section 33-15-4.5. - Continuing duties of good Samaritan guardians.
Section 33-15-6. - Who may be appointed limited guardian or guardian.
Section 33-15-8. - Authority of limited guardian or guardian.
Section 33-15-8.1. - Temporary guardianship for specific purpose.
Section 33-15-10. - Appointment of temporary limited guardian or guardian.
Section 33-15-11. - Tenure of temporary limited guardian or guardian.
Section 33-15-12. - Powers of temporary limited guardian or guardian — Bond.
Section 33-15-13. - Recording of petition in land records — Disability to contract.
Section 33-15-14. - Expense of prosecuting or defending against petition.
Section 33-15-15. - Exemption of welfare agencies from costs and bond.
Section 33-15-16. - Guardian of estate of nonresident.
Section 33-15-18. - Removal of limited guardian or guardian or conservator — Resignation.
Section 33-15-19. - Inventory and appraisement of estate.
Section 33-15-20. - Statements of claims against estate.
Section 33-15-21. - Demands payable in future.
Section 33-15-22. - Addresses of creditors — Affidavit to support claim.
Section 33-15-23. - Notice of disallowance of claims.
Section 33-15-25. - Action on limited guardian’s or guardian’s bond.
Section 33-15-26. - Annual account.
Section 33-15-26.1. - Annual status report.
Section 33-15-27. - Allowances to limited guardian or guardians.
Section 33-15-31. - Application of personal property to debts — Priority of claims.
Section 33-15-32. - Sale or mortgage of real estate.
Section 33-15-33. - Sale of personal property.
Section 33-15-35. - Investment of surplus funds — Relief from bond requirements.
Section 33-15-36. - Powers of limited guardian or guardian with respect to corporate stock.
Section 33-15-37. - Support of dependents for whom ward has no legal obligation to provide.
Section 33-15-37.1. - Minimization of taxes — Estate planning.
Section 33-15-38. - Powers unimpaired by §§ 33-15-37 and 33-15-37.1.
Section 33-15-40. - Appeal to supreme court from proceedings under §§ 33-15-37 and 33-15-37.1.
Section 33-15-41. - Applicability of §§ 33-15-37 — 33-15-40.
Section 33-15-42. - Removal of property by nonresident guardian.
Section 33-15-43. - Order to resident guardian to deliver property to nonresident guardian.
Section 33-15-44. - Conservator for incompetent person — Disability to contract.
Section 33-15-45. - Conservator’s bond and inventory — Management and accounting.