Rhode Island § 18-5-2 - Common Trust Funds
Full text of Rhode Island Rhode Island General Laws § 18-5-2 — Common Trust Funds, with citation guidance and answers to common questions.
§ 18-5-2. Common Trust Funds
R.I. Gen. Laws § 18-5-2
§ 18-5-2. Definitions.
(a) As used in this chapter, “affiliate” of a trust company or national banking association means a member of an affiliated group connected through stock ownership with a common parent corporation which directly or indirectly owns stock possessing at least eighty percent (80%) of the total voting power and at least eighty percent (80%) of the total value of stock of each member of the affiliated group other than the common parent corporation.
(b) “Common trust fund” means a fund maintained by a bank or trust company exclusively for the collective investment and reinvestment of money contributed to the fund by the bank or trust company in its capacity as a trustee, executor, administrator, or guardian, or as a cotrustee, coexecutor, coadministrator, or coguardian.
History of Section.
P.L. 1956, ch. 3839, § 2; G.L. 1956, § 18-5-2; P.L. 1963, ch. 123, § 1; P.L. 1988,
ch. 306, § 1.
Frequently Asked Questions About Rhode Island § 18-5-2
What does Rhode Island General Laws § 18-5-2 cover?
Section 18-5-2 ("Common Trust Funds") 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 § 18-5-2?
A common citation format is "Rhode Island General Laws § 18-5-2" (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 § 18-5-2 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.