§ 7-7-13. Restriction on dividends.
No association formed under this chapter shall pay over eight percent (8%) per annum on its capital stock or membership capital.
History of Section.P.L. 1928, ch. 1202, § 6; G.L. 1938, ch. 117, § 6; G.L. 1956, § 7-7-13.
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.