Rhode Island General Laws 7-6.2-11. Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger
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When any workers’ cooperative revokes its election in accordance with § 7-6.2-5, an amendment of the certificate of incorporation shall provide for the conversion of membership shares and internal capital accounts, or their conversion to securities or other property in a manner consistent with the provisions of chapter 1.2 of Title 7.
History of Section.
P.L. 2017, ch. 370, § 1; P.L. 2017, ch. 378, § 1.
Terms Used In Rhode Island General Laws 7-6.2-11
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.