§ 34-41-3.13. Authority of trustee.
With respect to a third person dealing with a trustee, under § 34-41-2.05 or § 34-41-3.08, the existence of trust powers and their proper exercise by the trustee may be assumed without inquiry. A third person is not bound to inquire whether the trustee has power to act as trustee or is properly exercising trust powers, and a third person without actual knowledge that the trustee is exceeding or improperly exercising his or her powers is fully protected in dealing with the trustee as if he or she possessed and were properly exercising the power he or she purports to exercise. A third person is not bound to assure the proper application of trust assets paid or delivered to the trustee in his or her capacity as trustee.
History of Section.P.L. 1984, ch. 141, § 2.
Structure Rhode Island General Laws
Chapter 34-41 - Rhode Island Real Estate Time-Share Act
Article III - Management of the Time-Share Property
Section 34-41-3.01. - Managing entity.
Section 34-41-3.02. - Powers of managing entity.
Section 34-41-3.03. - Powers and duties in absence of managing entity.
Section 34-41-3.04. - Transfer of special developer rights.
Section 34-41-3.05. - Termination of contracts and leases of developer.
Section 34-41-3.06. - Upkeep of units.
Section 34-41-3.07. - Tort and contract liability.
Section 34-41-3.08. - Insurance.
Section 34-41-3.09. - Surplus funds.
Section 34-41-3.10. - Assessments for time-share expenses.
Section 34-41-3.11. - Lien for assessments.
Section 34-41-3.12. - Financial records.
Section 34-41-3.13. - Authority of trustee.
Section 34-41-3.14. - Initiative, referendum, and recall — General provisions.
Section 34-41-3.15. - Direct initiative by owners.