The funds loaned on any housing loan guaranteed, in part or in full, under the provisions of federal law may be paid over by the lender to the minor receiving that loan or at the direction of the minor and no person or corporation making payment of those funds shall be responsible for the proper application thereof, and prior to the application of those funds to any purchase or other purpose of that loan, any guardian of the minor shall not have, or be entitled to, the title, possession, or management of those funds and shall not inventory or account for them as part of the estate of the minor. History of Section.P.L. 1945, ch. 1583, § 2; G.L. 1956, § 30-19-4.
Rhode Island Legal Code