§ 33-6-15 - Interest on general pecuniary legacies.
SECTION 33-6-15
§ 33-6-15 Interest on general pecuniarylegacies. – Unless otherwise provided in the will, a general pecuniary legatee shall not beentitled to interest on his or her legacy for the period of one year from andafter the death of the testator. After the one year period the executor oradministrator with the will annexed, unless otherwise provided by the testator,shall not be chargeable for more interest on any pecuniary legacy than theentire net income actually earned by the legacy if and when left in theinvestment as made by the testator, or actually invested in notes secured bymortgage upon real estate situated in this state, or in the bonds of any cityor town in this state, or deposited in any savings bank in this state, or inthe participation account of any trust company in this state, or invested inany other manner specially ordered by the probate court. But if otherwiseinvested, the legacy shall bear interest at the rate of six percent (6%) perannum or such larger rate as the same may have earned; provided, however, thatnothing herein contained shall authorize executors or administrators to makeinvestments other than trustees are allowed to make, unless speciallyauthorized by the will to do so.