Section 15-1-507 - Custodian as fiduciary

For purposes of this part 5, a bank or trust company acting as custodian shall be deemed to be a fiduciary, and property held in custody by a bank or trust company shall be deemed to be fiduciary property.L. 77: Entire part R&RE, p. 827, § 1, effective July 1.This section is similar to former § 15-1-507 as it existed prior to 1977.