R.I. Gen. Laws § 42-7.2-20.4: Contributions to be held in trust.

(a) Funds contributed to the program shall be held in trust in a special account or accounts and shall not be co-mingled with any state funds appropriated by the general assembly for the support of the programs administered by the executive office.

(b) There shall be separate accounting for each designated beneficiary.

(c) Any designated beneficiary under such program may, directly or indirectly, direct the investment of any contributions to the program (or earnings thereon) no more than the allowable limit of 26 U.S.C. § 529A.