§ 7-7-12. Transfer of stock.
The transfer of common stock of an association is restricted to persons engaged in the production of the products handled by an association subject to any provisions in its articles or bylaws consistent with this chapter. An association may provide in its articles or bylaws that it is to have the prior right to purchase, on any terms that it determines, any of its common stock that may be offered for sale.
History of Section.P.L. 1928, ch. 1202, § 6; G.L. 1938, ch. 117, § 6; G.L. 1956, § 7-7-12.
Structure Rhode Island General Laws
Title 7 - Corporations, Associations and Partnerships
Chapter 7-7 - Producers’ Cooperatives
Section 7-7-2. - Power to form associations.
Section 7-7-3. - Contents and filing of articles of association.
Section 7-7-4. - Incorporation fee — Certificate — Articles as evidence.
Section 7-7-5. - Associations deemed nonprofit.
Section 7-7-6. - General powers of associations.
Section 7-7-8. - Qualifications of members.
Section 7-7-9. - Membership certificates — Settlement on termination of membership.
Section 7-7-10. - Voting rights.
Section 7-7-11. - Limited liability of members and stockholders.
Section 7-7-12. - Transfer of stock.
Section 7-7-13. - Restriction on dividends.
Section 7-7-14. - Directors — Meetings of association.
Section 7-7-15. - Amendment of articles.
Section 7-7-16. - Marketing contract — Enforcement.
Section 7-7-17. - Annual report — Examination of books.
Section 7-7-18. - Federation and cooperation between associations.
Section 7-7-19. - Use of name restricted to associations under chapter.