Rhode Island General Laws

R.I. Gen. Laws § 18-4-16 (2026)

Payments or transfers to fiduciaries — Effect of misapplication by fiduciary

✓ current as of July 2026

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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.

Notes of Decisions

Cited in 4 cases, 1998–2001 · leading case: Schock v. United States, 254 F.3d 1 (1st Cir. 2001).

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Schock v. United States, 254 F.3d 1 (1st Cir. 2001). · cites it 3× “R.I. Gen. Laws § 18-4-16. Schock argued that this law did not apply because Nero’s apparent authority to withdraw the money as Miller’s agent, under the Restatement (Second) of Agency, ended by operation of law when Miller died.”

Schock v. United States, 21 F. Supp. 2d 115 (D.R.I. 1998). · cites it 9× “G.L. § 18-4-16 provides it with a defense.”

Schock v. United States, 56 F. Supp. 2d 185 (D.R.I. 1999). · cites it 3× “That public policy is bolstered by R.I. Gen. Laws § 18-4-16, which is at issue in this case.”

Schock v. Fed. Deposit Ins., 118 F. Supp. 2d 165 (D.R.I. 2000). · cites it 2× “See R.I. Gen. Laws § 18-4-16 (1996). The UFA only applies, however, where the funds are transferred to a person who is a fiduciary in fact.”

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