Rhode Island General Laws 33-18-24. Transfer of corporate securities and mortgages by foreign fiduciary
Any corporation organized under the laws of this state may, before having actual notice of the pendency of an application in this state for letters testamentary, of administration, or guardianship, permit the executor of the will or administrator of the estate of a decedent who at the time of his or her death was not a resident in this state, or a guardian whose ward does not reside in this state, duly appointed, qualified, and authorized under the laws of any other state, territory, or district of the United States, to transfer to any person shares of stock and registered bonds standing in the name of the decedent or ward and to receive the dividends and interest thereon. The executor of the will or administrator of the estate of a decedent who at the time of his or her death was not a resident in this state, or a guardian whose ward does not reside in this state, duly appointed and qualified under the laws of any other state, territory, or district of the United States shall have the power to and may assign and transfer any mortgage debt, note, and mortgage, held by or belonging to the decedent or to the ward, upon any real estate or personal property located in this state, provided a duly authenticated copy of the certificate of the appointment of the executor, administrator, or guardian, and evidence that the appointment has not been revoked, are annexed to the assignment and transfer.
History of Section.
C.P.A. 1905, § 853; G.L. 1909, ch. 312, § 27; G.L. 1923, ch. 363, § 27; G.L. 1938, ch. 575, § 25; P.L. 1943, ch. 1324, § 1; G.L. 1956, § 33-18-24.
Terms Used In Rhode Island General Laws 33-18-24
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Decedent: A deceased person.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Executor: A male person named in a will to carry out the decedent
- 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.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
- Personal property: All property that is not real property.
- real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10
- United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8