§ 33-15.1-27. Investment of surplus funds — Relief from bond requirements.
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 unencumbered, 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; and may also, under the direction of the probate court, invest any money in real estate or bank stocks in this state or in other safe income producing securities as the probate court may approve; and if a guardian has so deposited any money in any savings bank or trust company or invested the money in stock of any association and deposited with the clerk of the probate court the savings bankbook, share certificate or other evidence of the deposit or investment, to be held subject to the order of the court, the probate court in its discretion may relieve the guardian of the requirement of surety on his or her bond.
History of Section.P.L. 1992, ch. 493, § 5; P.L. 2008, ch. 299, § 2; P.L. 2008, ch. 419, § 2.
Structure Rhode Island General Laws
Title 33 - Probate Practice and Procedure
Chapter 33-15.1 - Guardianship of Minors
Section 33-15.1-1. - Parents as joint natural guardians — Releases.
Section 33-15.1-3. - No preference between parents.
Section 33-15.1-4. - Power of probate court to appoint guardians.
Section 33-15.1-4.1. - Repealed.
Section 33-15.1-5. - Appointment of guardians for minors.
Section 33-15.1-6. - Appointment in lieu of guardian nominated by minor.
Section 33-15.1-7. - Testamentary appointment of guardian for minor children.
Section 33-15.1-8. - Nonresident as guardian of minor.
Section 33-15.1-9. - Guardian of estate of nonresident.
Section 33-15.1-10. - Notice on ward for appointment of guardian of person.
Section 33-15.1-11. - Notice to spouse, children or heirs at law of ward.
Section 33-15.1-12. - Expense of prosecuting or defending against petition.
Section 33-15.1-13. - Exemption of welfare agencies from costs and bond.
Section 33-15.1-14. - Appointment of temporary guardian.
Section 33-15.1-15. - Tenure of temporary guardian.
Section 33-15.1-16. - Powers of temporary guardian — Bond.
Section 33-15.1-17. - Inventory and appraisement of estate.
Section 33-15.1-18. - Statements of claims against estate.
Section 33-15.1-19. - Demands payable in future.
Section 33-15.1-20. - Addresses of creditors — Affidavit to support claim.
Section 33-15.1-21. - Application of personal property to debts — Priority of claims.
Section 33-15.1-22. - Application of property to debts contracted during minority.
Section 33-15.1-23. - Sale or mortgage of real estate.
Section 33-15.1-24. - Sale of personal property.
Section 33-15.1-25. - Notice of disallowance of claims.
Section 33-15.1-27. - Investment of surplus funds — Relief from bond requirements.
Section 33-15.1-28. - General duties with respect to person and estate.
Section 33-15.1-29. - Annual account.
Section 33-15.1-30. - Responsibility of guardians for education of minors.
Section 33-15.1-31. - Powers of guardian with respect to corporate stock.
Section 33-15.1-32. - Support of dependents for whom ward has no legal obligation to provide.
Section 33-15.1-33. - Appeal to supreme court from proceedings under § 33-15.1-32.
Section 33-15.1-34. - Applicability of §§ 33-15.1-32 and 33-15.1-33.
Section 33-15.1-35. - Removal of property by nonresident guardian.
Section 33-15.1-36. - Order to resident guardian to deliver property to nonresident guardian.
Section 33-15.1-37. - Removal of guardian — Resignation.
Section 33-15.1-38. - Allowances to guardians.