There is a newer version
of
this Section
2018 Rhode Island General Laws
Title 7 - Corporations, Associations and Partnerships
Chapter 7-8 Consumers' Cooperatives
Section 7-8-20 Association's preemptive right to repurchase shares.
Universal Citation: RI Gen L § 7-8-20 (2018)
§ 7-8-20. Association's preemptive right to repurchase shares.
If any holder of shares desires to dispose of any or all of his or her holdings in the association, he or she shall offer the holdings to the association, and the directors have the power to purchase, within ninety (90) days of the offer, the holdings by paying the member the par value of any or all of the holdings offered.
History of Section.
(P.L. 1947, ch. 1976, § 18; G.L. 1956, § 7-8-20.)
Disclaimer: These codes may not be the most recent version. Rhode Island may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
