Rhode Island General Laws 7-6-71. Powers of foreign corporation
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A foreign corporation that has received a certificate of authority under this chapter shall, until a certificate of revocation or of withdrawal has been issued as provided in this chapter, enjoy the same, but no greater, rights and privileges as a domestic corporation organized for the purposes set forth in the application pursuant to which the certificate of authorization is issued; and, except as otherwise provided in this chapter, is subject to the same duties, restrictions, penalties, and liabilities now or subsequently imposed upon a similar domestic corporation.
History of Section.
P.L. 1984, ch. 380, § 1; P.L. 1984, ch. 444, § 1.
Terms Used In Rhode Island General Laws 7-6-71
- 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.
- Domestic corporation: means a nonprofit corporation subject to the provisions of this chapter, except a foreign corporation. See Rhode Island General Laws 7-6-2
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.