Rhode Island General Laws

R.I. Gen. Laws § 18-10-1 (2026)

Authority to register security in name of nominee

✓ current as of July 2026

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Any trust company or national banking association doing business in this state when acting as executor, administrator, guardian, conservator, testamentary trustee, or trustee under any other instrument, whether alone or jointly with an individual or individuals, may, with the consent of the individual fiduciary or fiduciaries, if any, who are authorized to give consent, cause any stock, shares, bonds, debentures, notes, mortgages, or other securities in any corporation, business trust, or association, or any other personal property held in any capacity, to be registered and held in the name of a nominee or nominees of the trust company or national banking association, which nominee or nominees may be an individual or individuals, a partnership, or a corporation, without mention of the trust or fiduciary relationship in the certificate or other instrument or document representing the property or evidencing the title to the property.

Notes of Decisions

Cited in 2 cases, 2013–2014 · leading case: Anthony Bucci v. Lehman Bros. Bank, FSB, 68 A.3d 1069 (R.I. 2013).

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Anthony Bucci v. Lehman Bros. Bank, FSB, 68 A.3d 1069 (R.I. 2013). · cites it 9× “First, they contend that G.L.1956 § 18-10-1 precludes MERS from acting as a nominee for the beneficial owner of the note because it does not specifically authorize an entity such as MERS to hold a mortgage in a nominee capacity.”

Lister v. Bank of Am., N.A., 8 F. Supp. 3d 74 (D.R.I. 2014). · cites it 2× “Third, the court held that MERS’s nominee status survived a challenge based on R.I. Gen. Laws § 18-10-1, which limits companies acting in nominee capacities to trust companies or national banking associations.”

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