A person who in good faith pays or transfers to a fiduciary any money or other property, which the fiduciary is authorized to receive, is not responsible for the proper application of the money or other property by the fiduciary; and any right or title acquired from the fiduciary in consideration of the payment or transfer is not invalid in consequence of a misapplication by the fiduciary.
R.I. Gen. Laws § 18-4-16
Payments or transfers to fiduciaries — Effect of misapplication by fiduciary
Applied in 3 court decisions — leading case Schock v. United States (2001)
Most recently applied in Schock v. United States (June 2001)
P.L. 1960, ch. 147, § 3.
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.