Rhode Island General Laws 7-16-24. Contributions to capital
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The contribution of a member to a limited-liability company must be a capital contribution.
History of Section.
P.L. 1992, ch. 280, § 1.
Terms Used In Rhode Island General Laws 7-16-24
- Capital contribution: means any cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services that a member contributes to a limited-liability company in his or her capacity as a member. See Rhode Island General Laws 7-16-2
- Member: means a person with an ownership interest in a limited-liability company with the rights and obligations specified under this chapter. See Rhode Island General Laws 7-16-2