2020 Rhode Island General Laws
Title 18 - Fiduciaries
Chapter 18-4 Powers of Fiduciaries
Section 18-4-15 Definitions.
§ 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.
History of Section.
(P.L. 1960, ch. 147, § 3.)
