Rhode Island General Laws 7-8-5. Federation and cooperation between associations
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In addition to the powers granted to it by § 7-1.2-302, an association has power to:
(1) Own and hold membership in other associations formed under any laws of this state, or of any other state, country, nation, or government, and while the holder thereof, to exercise all the rights of membership;
(2) Make agreements of mutual aid or federation with other associations, other groups organized on a cooperative basis, and other nonprofit groups.
History of Section.
P.L. 1947, ch. 1976, § 5; G.L. 1956, § 7-8-5; P.L. 1985, ch. 2, § 1; P.L. 2005, ch. 36, § 6; P.L. 2005, ch. 72, § 6; P.L. 2018, ch. 346, § 9.
Terms Used In Rhode Island General Laws 7-8-5
- Association: means any corporation formed under this chapter. See Rhode Island General Laws 7-8-2
- Membership: means , in the case of a share association, the status whereby a shareholder becomes entitled to all the rights, including, but not limited to, the right of voting and of receiving dividends on shares, and apportionment of net savings in cash, which accrue to him or her under the articles of association and bylaws upon the acquisition of the minimum number of shares of stock required by the articles of association for membership and upon fulfillment of the eligibility requirements of the association. See Rhode Island General Laws 7-8-2