Rhode Island General Laws 6-13.1-9. Forfeiture of corporate franchise
Current as of: 2023 | Check for updates
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Upon petition by the attorney general, the superior court may, in its discretion, order the dissolution or suspension or forfeiture of franchise of any corporation that violates the terms of an injunction issued under § 6-13.1-5.
History of Section.
P.L. 1968, ch. 12, § 1.
Terms Used In Rhode Island General Laws 6-13.1-9
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.