§ 7-8-32. Acceptance of chapter by cooperatives formed under other law.
Any corporation incorporated under another law of this state and operating on a cooperative basis may elect, by a vote of a majority of its members voting, to secure the benefits of and be bound by this chapter, and shall subsequently amend any of its articles of association and bylaws that are not in conformity with this chapter. A certified copy of the amended articles of association shall be filed with the secretary of state, and a certified copy of the above vote and a fee of five dollars ($5.00) paid to the secretary of state. Upon the filing and the payment of the fee, the corporation is subsequently, in all respects, governed by the provisions of this chapter.
History of Section.P.L. 1947, ch. 1976, § 28; G.L. 1956, § 7-8-32.
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”.