Rhode Island General Laws 18-7-11. Single custodianship
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A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this chapter by the same custodian for the benefit of the same minor constitutes a single custodianship.
History of Section.
P.L. 1985, ch. 389, § 2.
Terms Used In Rhode Island General Laws 18-7-11
- Custodial property: means :
(i) Any interest in property transferred to a custodian under this chapter; and
(ii) The income from and proceeds of that interest in property. See Rhode Island General Laws 18-7-2
- Custodian: means a person designated under § 18-7-10 or a successor or substitute custodian designated under § 18-7-19. See Rhode Island General Laws 18-7-2
- Minor: means an individual who has not attained the age of twenty-one (21) years. See Rhode Island General Laws 18-7-2
- Person: means an individual, corporation, organization, or other legal entity. See Rhode Island General Laws 18-7-2
- Transfer: means a transaction that creates custodial property under § 18-7-10. See Rhode Island General Laws 18-7-2