§ 19-2-1. Agreement to form financial institution.
Fifteen (15) or more persons, all of whom shall be citizens and residents of this state, who associate themselves by a written agreement to form, may, upon compliance with the provisions of this chapter, become a financial institution, with all the powers, rights, and privileges, and subject to all of the duties, restrictions, and liabilities set forth in this title and in all laws relating to financial institutions.
History of Section.P.L. 1995, ch. 82, § 39.
Structure Rhode Island General Laws
Title 19 - Financial Institutions
Chapter 19-2 - Creation and Expansion
Section 19-2-1. - Agreement to form financial institution.
Section 19-2-2. - Contents of agreement to form.
Section 19-2-3. - Application to form financial institution — Issuance or denial of certificate.
Section 19-2-4. - Notice of subscribers’ meeting.
Section 19-2-5. - Proceedings at subscribers’ meeting.
Section 19-2-6. - Certificate of president and directors elected at first meeting.
Section 19-2-7. - Approval of certificate — Filing — Fee on capital stock.
Section 19-2-8. - Certificate of secretary of state.
Section 19-2-9. - Payment for stock in cash — Certificate authorizing transaction of business.
Section 19-2-10. - Amendment of agreement to form.
Section 19-2-11. - Establishment of branches.
Section 19-2-12. - Relocation of branches.
Section 19-2-14. - Conversion to stock form of financial institution.
Section 19-2-14.1. - Mutual holding companies.
Section 19-2-15. - Approval of amendments to bylaws required.
Section 19-2-16. - Indemnification of officers and employees for acts in course of duties.
Section 19-2-17. - Oath of director.
Section 19-2-18. - Record of meetings of boards and committees.
Section 19-2-19. - Bonds of officers and employees — Supervision by director.