§ 33-16-21 - Investments. - Rhode Island Statutes

SECTION 33-16-21

   § 33-16-21  Investments. – Every guardian shall invest the surplus funds of his or her ward's estate insecurities or property as authorized under the laws of this state, but onlyupon prior order of the court; except that the funds may be invested, withoutprior court authorization, in direct unconditional interest bearing obligationsof this state or of the United States and in obligations the interest andprincipal of which are unconditionally guaranteed by the United States. Asigned duplicate or certified copy of the petition for authority to investshall be furnished the proper office of the veterans administration, and noticeof a hearing on investments shall be given the office as provided in the caseof hearing on a guardian's account.