2009 Rhode Island Code
Title 18 - Fiduciaries
CHAPTER 18-4 - Powers of Fiduciaries
§ 18-4-15 - Definitions.
SECTION 18-4-15
§ 18-4-15 Definitions. – (a) In §§ 18-4-16 – 18-4-21, unless the context or subject matter otherwise requires:
(1) "Bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking.
(2) "Fiduciary" includes a trustee under any trust, expressed, implied, resulting, or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust, or estate.
(3) "Person" includes a corporation, partnership, or other association, or two (2) or more persons having a joint or common interest.
(4) "Principal" includes any person to whom a fiduciary owes an obligation.
(b) A thing is done "in good faith", within the meaning of §§ 18-4-16 – 18-4-21, when it is in fact done honestly, whether it is done negligently or not.
Disclaimer: These codes may not be the most recent version. Rhode Island may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
