§ 7-8-31. Exemption from securities law.
The provisions of chapter 11 of this title do not apply to shares of stock of, or memberships in, associations formed under this chapter, or associations formed under like laws of other states, territories, the District of Columbia, or the United States, or to persons selling shares of stock of, or memberships in, the associations.
History of Section.P.L. 1947, ch. 1976, § 27; G.L. 1956, § 7-8-31.
Structure Rhode Island General Laws
Title 7 - Corporations, Associations and Partnerships
Chapter 7-8 - Consumers’ Cooperatives
Section 7-8-3. - Authorized purposes.
Section 7-8-4. - Application of general corporation law.
Section 7-8-5. - Federation and cooperation between associations.
Section 7-8-6. - Contents of articles of association.
Section 7-8-7. - Name of association.
Section 7-8-8. - Fee payable to secretary of state by nonstock corporation.
Section 7-8-9. - Amendment of articles.
Section 7-8-10. - Contents of bylaws.
Section 7-8-11. - Meetings of members.
Section 7-8-12. - Voting rights.
Section 7-8-13. - Proxy and mail votes.
Section 7-8-14. - Mail voting included in statutory provisions.
Section 7-8-15. - Apportionment of directors among units.
Section 7-8-16. - Restriction on dividends.
Section 7-8-17. - Membership of organizations — Payment of capital as prerequisite to membership.
Section 7-8-18. - Share and membership certificates.
Section 7-8-19. - Application of corporation and franchise taxes to associations without stock.
Section 7-8-20. - Association’s preemptive right to repurchase shares.
Section 7-8-21. - Transfer of holdings.
Section 7-8-22. - Recall of shares.
Section 7-8-23. - Impairment of solvency prohibited.
Section 7-8-24. - Expulsion of members.
Section 7-8-25. - Exemption of holdings from attachment.
Section 7-8-26. - Apportionment of net savings.
Section 7-8-27. - Contents of annual report.
Section 7-8-28. - Distribution of assets on dissolution.
Section 7-8-29. - Bonding of officers and employees.
Section 7-8-30. - Annual audit of books.
Section 7-8-31. - Exemption from securities law.
Section 7-8-32. - Acceptance of chapter by cooperatives formed under other law.
Section 7-8-33. - Use of word “cooperative”.