§ 34-4-9 - Management of proceeds of sale – Supervision by court. - Rhode Island Statutes

SECTION 34-4-9

   § 34-4-9  Management of proceeds of sale– Supervision by court. – The trustee or trustees appointed under § 34-4-7 shall give bond in suchform and for such an amount as the court may order, shall receive, hold, andinvest the proceeds of any sale, and shall pay, apply, and distribute theproceeds, and any income therefrom, to or for the benefit of the persons whowould have been entitled to the real estate and the income therefrom if thesale had not been made, and shall have full power in his, her, or theirdiscretion, or, if a corporation, in the discretion of its officer or committeeduly authorized, from time to time to invest, reinvest, and change theinvestment of the proceeds; and the court shall have jurisdiction of allmatters thereafter arising in relation to the trust, including the removal of atrustee and the appointment of another in his or her stead, or filling avacancy in the trusteeship whenever the occasion requires.