§ 18-4-15 - Definitions. - Rhode Island Statutes

SECTION 18-4-15

   § 18-4-15  Definitions. – (a) In §§ 18-4-16 – 18-4-21, unless the context or subjectmatter otherwise requires:

   (1) "Bank" includes any person or association of persons,whether incorporated or not, carrying on the business of banking.

   (2) "Fiduciary" includes a trustee under any trust,expressed, implied, resulting, or constructive, executor, administrator,guardian, conservator, curator, receiver, trustee in bankruptcy, assignee forthe benefit of creditors, partner, agent, officer of a corporation, public orprivate, public officer, or any other person acting in a fiduciary capacity forany person, trust, or estate.

   (3) "Person" includes a corporation, partnership, or otherassociation, or two (2) or more persons having a joint or common interest.

   (4) "Principal" includes any person to whom a fiduciary owesan obligation.

   (b) A thing is done "in good faith", within the meaning of§§ 18-4-16 – 18-4-21, when it is in fact done honestly, whetherit is done negligently or not.