Rhode Island General Laws 18-7-20. Accounting by and determination of liability of custodian
(a) A minor who has attained the age of fourteen (14) years, the minor’s guardian or legal representative, an adult member of the minor’s family, a transferor, or a transferor’s legal representative may petition the court:
(1) For an accounting by the custodian or the custodian’s legal representative; or
(2) For a determination of responsibility, as between the custodial property and the custodian personally, for claims against the custodial property, unless the responsibility has been adjudicated in an action under § 18-7-18 to which the minor or the minor’s legal representative was a party.
Terms Used In Rhode Island General Laws 18-7-20
- Adult: means an individual who has attained the age of twenty-one (21) years. See Rhode Island General Laws 18-7-2
- 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
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Legal representative: means an individual's personal representative or conservator. 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
- Transfer: means a transaction that creates custodial property under § 18-7-10. See Rhode Island General Laws 18-7-2
- Transferor: means a person who makes a transfer under this chapter. See Rhode Island General Laws 18-7-2
(b) A successor custodian may petition the court for an accounting by the predecessor custodian.
(c) The court, in a proceeding under this chapter or in any other proceeding, may require or permit the custodian or the custodian’s legal representative to account.
(d) If a custodian is removed under § 18-7-19(f), the court shall require an accounting and order delivery of the custodial property and records to the successor custodian and the execution of all instruments required for transfer of the custodial property.
History of Section.
P.L. 1985, ch. 389, § 2; P.L. 1988, ch. 84, § 79.