(a)  The provisions of chapter 1.2 of Title 7 are applicable to workers’ cooperatives.

Terms Used In Rhode Island General Laws 7-6.2-4

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

(b)  All workers’ cooperatives shall enjoy the powers and privileges, and be subject to the duties, restrictions, and liabilities of other corporations organized under chapter 1.2 of Title 7, except where inconsistent with the intent and purpose of this chapter.

(c)  This chapter takes precedence in the event of a conflict with the provisions of chapter 1.2 of Title 7.

(d)  All workers’ cooperatives shall be subject to the provisions of chapter 11 of Title 44 dealing with the taxation of corporations and chapters 29 through 44 of title 28.

(e)  Except as provided in subsection (f) of this section, workers’ cooperatives shall be subject to the provisions of title 28 as employers.

(f)  To the extent that a workers’ cooperative has shareholders (owners) who are employees (members), the workers’ cooperative shall be subject to the provisions of title 28 related to employees including, but not limited to: department of labor and training payroll taxes, temporary disability insurance, state unemployment insurance and workers’ compensation insurance.

History of Section.
P.L. 2017, ch. 370, § 1; P.L. 2017, ch. 378, § 1.