Rhode Island § 18-11-8 - Simplification of Fiduciary Security Transfers
Full text of Rhode Island Rhode Island General Laws § 18-11-8 — Simplification of Fiduciary Security Transfers, with citation guidance and answers to common questions.
§ 18-11-8. Simplification of Fiduciary Security Transfers
R.I. Gen. Laws § 18-11-8
§ 18-11-8. Non-liability of third persons.
(a) No person who participates in the acquisition, disposition, assignment, or transfer of a security by or to a fiduciary, including a person who guarantees the signature of the fiduciary, is liable for participation in any breach of fiduciary duty by reason of failure to inquire whether the transaction involves a breach, unless it is shown that the person acted with actual knowledge that the proceeds of the transaction were being or were to be used wrongfully for the individual benefit of the fiduciary or that the transaction was otherwise in breach of duty.
(b) If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary is not liable on the guarantee to any person to whom the corporation or transfer agent, by reason of this chapter, incurs no liability.
(c) This section does not impose any liability upon the corporation or its transfer agent.
History of Section.
P.L. 1959, ch. 85, § 8.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 18-11-8
What does Rhode Island General Laws § 18-11-8 cover?
Section 18-11-8 ("Simplification of Fiduciary Security Transfers") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 18-11-8?
A common citation format is "Rhode Island General Laws § 18-11-8" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 18-11-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.