Rhode Island General Laws 18-7-15. Use of custodial property
(a) A custodian may deliver or pay to the minor or expend for the minor’s benefit as much of the custodial property as the custodian considers advisable for the use and benefit of the minor, without court order and without regard to:
(1) The duty or ability of the custodian personally or of any other person to support the minor; or
(2) Any other income or property of the minor that may be applicable or available for that purpose.
Terms Used In Rhode Island General Laws 18-7-15
- Court: means probate court. See Rhode Island General Laws 18-7-2
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: means an individual, corporation, organization, or other legal entity. See Rhode Island General Laws 18-7-2
(b) On petition of an interested person, or the minor if the minor has attained the age of fourteen (14) years, the court may order the custodian to deliver or pay to the minor or expend for the minor’s benefit as much of the custodial property as the court considers advisable for the use and benefit of the minor.
(c) A delivery, payment, or expenditure under this section is in addition to, but not in substitution for, and does not affect, any obligation of a person to support the minor.
History of Section.
P.L. 1985, ch. 389, § 2.