§ 19-3.1-3 - Financial institution acting as fiduciary. - Rhode Island Statutes

SECTION 19-3.1-3

   § 19-3.1-3  Financial institution acting asfiduciary. – A financial institution subject to this chapter shall also have power to acceptand execute all of these trusts, and to hold in trust all property, of everydescription, as may be committed to it by any person or persons, or by anycorporation, or by any court of this state or of the United States; and also toaccept and execute the office and appointment of executors, administrators,custodians, conservators, guardians of estates, assignees, or receivers of anykind or nature whatever, whether that office or appointment be conferred ormade by any person or persons, or by any court of probate or other court; andany court of probate in this state is hereby empowered, in its discretion, toappoint the financial institution as executor, administrator, custodian,conservator and guardian of the estate of any person within its jurisdiction,subject however, to the provisions of § 33-8-8, and provided, that thefinancial institution may, upon the petition of the surviving spouse, beappointed administrator or custodian upon the estate of a spouse dyingintestate; provided, further, that the financial institution shall not beauthorized to act in any of the foregoing offices until its acceptance inwriting of the appointment shall be filed and recorded in the probate court inwhich the appointment shall be made.