§ 18-5-4 Exemption of funds from taxation
generally. –
Except as provided in § 18-5-3, no common trust fund nor any asset of the
fund, nor any trust company or national banking association by reason of its
ownership or operation of the fund or asset, shall be subject to any tax now or
subsequently levied, assessed, or imposed by the state of Rhode Island, or by
any city, town, or other political subdivision of the state.
(P.L. 1956, ch. 3839, § 3; G.L. 1956, § 18-5-4; P.L. 1969, ch. 197,
art. 7, § 2.)