§ 18-6-2 - Discharge of trustee by payment into court. - Rhode Island Statutes

SECTION 18-6-2

   § 18-6-2  Discharge of trustee by paymentinto court. – (a) Whenever a trustee holds any sum of money, or any bond, note, or otherobligation for money, or evidence of indebtedness, or any certificate of stockor other chose in action, payable or deliverable to, or the property of,another, and the person entitled to it cannot, for any reason, give properreceipt or discharge for it, and the trustee holding the money or propertydesires to free himself or herself from further liability for it, the trusteemay pay or deliver the money or property into the registry of the superiorcourt, presenting with it his or her petition praying to be discharged, andsetting out, under oath, to the best of the knowledge, information, and beliefof the affiant, the circumstances under which the trustee holds the money orproperty, and how the other person or persons is or are entitled to it, and whythe trustee or they cannot give proper receipt or discharge for the money orproperty; and upon the filing of the petition, notice of it shall be given inthe manner that the court shall direct.

   (b) The court shall take any proceedings in respect of themoney or property that it deems best.

   (c) The costs and expenses, including expenses and counselfees of the trustee, as between solicitor and client, as allowed by the courtor by one of the justices of the court, shall be paid or retained accordinglyout of the money or property.

   (d) When any person entitled to the money or property paid ordeposited in the registry appears and satisfies the court as to his or herright to the money or property, it shall be paid or delivered over to thatperson as the court shall direct.