reglab/housing_qa huggingface dataset:
RI Gen L § 7-8-18 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-18 - Share and membership certificates.

§ 7-8-18. Share and membership certificates.(a) No certificate for share or membership capital shall be issued until its par value has been paid for in full. There shall be printed on each certificate issued by an association a full or condensed statement of the requirements of § 7-8-12, the first clause of the first sentence of § 7-8-13, and §§ 7-8-20 — 7-8-24.(b) Each member, upon fulfilling the requirements of § 7-8-17, and of the articles of association, and/or bylaws of the association, including approval of his or her membership by the board of directors, if required, is entitled to a certificate for the amount of his paid-up share or membership capital.History of Section.P.L. 1947, ch. 1976, § 17; G.L. 1956, § 7-8-18.
RI Gen L § 7-8-19 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-19 - Application of corporation and franchise taxes to associations without stock.

§ 7-8-19. Application of corporation and franchise taxes to associations without stock.(a) For the purposes of taxation, under chapters 11 and 12 [repealed] of title 44, of an association formed under this chapter without capital stock, the words "share" and "stock" and "capital stock" are construed to include within their meaning memberships in the association.(b) For the purposes of taxation, under chapter 11 of title 44, of an association formed under this chapter without capital stock, the tax, if any, is based on the number of memberships outstanding in the association.(c) The par value of the memberships shall, for the purposes of computing the amount of tax due under chapters 11 and 12 [repealed] of title 44, be taken as the amount for which the memberships were issued.History of Section.P.L. 1947, ch. 1976, § 33; G.L. 1956, § 7-8-19.
RI Gen L § 7-8-20 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-20 - Association's preemptive right to repurchase shares.

§ 7-8-20. Association's preemptive right to repurchase shares.If any holder of shares desires to dispose of any or all of his or her holdings in the association, he or she shall offer the holdings to the association, and the directors have the power to purchase, within ninety (90) days of the offer, the holdings by paying the member the par value of any or all of the holdings offered.History of Section.P.L. 1947, ch. 1976, § 18; G.L. 1956, § 7-8-20.
RI Gen L § 7-8-21 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-21 - Transfer of holdings.

§ 7-8-21. Transfer of holdings.If the association fails, within ninety (90) days, to purchase all or any part of the holdings offered, their holder may dispose of the unpurchased interest elsewhere. No transferee of holdings in an association is entitled to the rights of membership until the transferee fulfills the requirements of eligibility of the association, including approval of his or her membership by the board of directors, if required.History of Section.P.L. 1947, ch. 1976, § 18; G.L. 1956, § 7-8-21.
RI Gen L § 7-8-22 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-22 - Recall of shares.

§ 7-8-22. Recall of shares.The bylaws may give the directors the power to use the reserve funds to recall, at par value, the holdings of any member in excess of the amount requisite for membership. The bylaws may also provide that if any member has failed to patronize the association during a period of time specified in the bylaws, the directors may use reserve funds to recall all of his or her holdings, and he or she at that time ceases to be a member of the association.History of Section.P.L. 1947, ch. 1976, § 19; G.L. 1956, § 7-8-22.
RI Gen L § 7-8-23 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-23 - Impairment of solvency prohibited.

§ 7-8-23. Impairment of solvency prohibited.No purchase or recall shall be made by the directors under § 7-8-20 or any other section if to do so would impair the solvency of the association.History of Section.P.L. 1947, ch. 1976, § 18; G.L. 1956, § 7-8-23.
RI Gen L § 7-8-24 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-24 - Expulsion of members.

§ 7-8-24. Expulsion of members.The bylaws may make provision for the expulsion of members by a two-thirds (⅔) vote of the members present at a regular or special meeting. The bylaws shall provide for the giving to a member of written notice of the charges against him or her at least three (3) weeks in advance of the meeting. The member shall have opportunity to be heard in person, or by counsel, at the meeting. On decision of the association to expel a member, the board of directors shall purchase the member's holdings at par value, when there are sufficient reserve funds.History of Section.P.L. 1947, ch. 1976, § 20; G.L. 1956, § 7-8-24.
RI Gen L § 7-8-25 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-25 - Exemption of holdings from attachment.

§ 7-8-25. Exemption of holdings from attachment.The holdings of any member of an association, to the extent of the minimum amount necessary for membership, but not to exceed fifty dollars ($50.00), is exempt from attachment, execution, or garnishment for the debts of the owner.History of Section.P.L. 1947, ch. 1976, § 21; G.L. 1956, § 7-8-25.
RI Gen L § 7-8-26 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-26 - Apportionment of net savings.

§ 7-8-26. Apportionment of net savings.At least once a year, the members and/or directors, as provided in the articles of association or bylaws, shall apportion the net savings of the association, after payment of return on capital, and after deduction of sums retained for proper corporate purposes, which may include an educational fund and a fund for the general welfare of the members, among member patrons, or to all patrons of the association in proportion to their patronage. However:(1) Not less than ten percent (10%) shall be placed in a reserve fund until such time as the fund equals at least fifty percent (50%) of the paid-up capital, and the fund may be used in the general conduct of business.(2) Sums allocated to subscribers and nonmembers as a result of the apportionment need not be paid in cash but may, if the articles of association or bylaws provide, be credited on the books of the association toward the payment of the minimum amount of share or membership capital subscribed for, or necessary for membership.(3) If, within any period of time specified in the bylaws:(i) Any subscriber has not accumulated and paid in the amount of capital subscribed for, or necessary for membership, whichever is specified in the articles of association or bylaws; or(ii) Any nonmember has not accumulated in his or her account the sum necessary for membership, or has accumulated the sum but neither requests nor agrees to become a member, or fails to comply with any provisions of the bylaws for admission to membership, then the amount accumulated or paid in may, if the articles of association or bylaws provide, be added to the general funds of the association, and subsequently no member, subscriber, or nonmember has any further rights in the paid-in capital or accumulated credits.History of Section.P.L. 1947, ch. 1976, § 22; G.L. 1956, § 7-8-26; P.L. 1985, ch. 2, § 1.
RI Gen L § 7-8-27 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-27 - Contents of annual report.

§ 7-8-27. Contents of annual report.The annual report of an association shall include a statement of the receipts, expenditures, assets, and liabilities of the association, and shall, in the case of a nonshare association, include, in lieu of the statement concerning its authorized and issued capital stock required by § 7-1.2-1501, a statement of the total number of members, the number admitted and withdrawn during the year, and the amount of membership fees received.History of Section.P.L. 1947, ch. 1976, § 23; G.L. 1956, § 7-8-27; P.L. 1985, ch. 2, § 1; P.L. 2005, ch. 36, § 6; P.L. 2005, ch. 72, § 6.
RI Gen L § 7-8-28 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-28 - Distribution of assets on dissolution.

§ 7-8-28. Distribution of assets on dissolution.Upon dissolution of an association, its assets, if any, after payment of the expenses of dissolution and the debts of the association, shall be distributed as follows:(1) By returning to the members the par value of their shares or of their membership certificates, returning to subscribers the amounts paid on their subscriptions, and returning to those entitled to them the amounts allocated in distribution of net savings as contemplated by § 7-8-26; and(2) By distributing any surplus as provided in the articles of association.History of Section.P.L. 1947, ch. 1976, § 24; G.L. 1956, § 7-8-28.
RI Gen L § 7-8-29 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-29 - Bonding of officers and employees.

§ 7-8-29. Bonding of officers and employees.Every individual acting as officer or employee of an association, and handling funds or securities amounting to one thousand dollars ($1,000) or more in any one year, shall be covered by an adequate bond as determined by the board of directors, and at the expense of the association.History of Section.P.L. 1947, ch. 1976, § 25; G.L. 1956, § 7-8-29.
RI Gen L § 7-8-30 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-30 - Annual audit of books.

§ 7-8-30. Annual audit of books.Every association shall have its books audited at the end of its fiscal year by an experienced bookkeeper or accountant, who shall not be an officer or director. Where the annual business amounts to less than ten thousand dollars ($10,000), the audit may be performed by a committee of three (3), who shall not be directors, officers, or employees. A written report of the audit, the balance sheet, and the income and expenses, shall be submitted to the annual meeting of the association.History of Section.P.L. 1947, ch. 1976, § 26; G.L. 1956, § 7-8-30.
RI Gen L § 7-8-31 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-31 - Exemption from securities law.

§ 7-8-31. Exemption from securities law.The provisions of chapter 11 of this title do not apply to shares of stock of, or memberships in, associations formed under this chapter, or associations formed under like laws of other states, territories, the District of Columbia, or the United States, or to persons selling shares of stock of, or memberships in, the associations.History of Section.P.L. 1947, ch. 1976, § 27; G.L. 1956, § 7-8-31.
RI Gen L § 7-8-32 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-32 - Acceptance of chapter by cooperatives formed under other law.

§ 7-8-32. Acceptance of chapter by cooperatives formed under other law.Any corporation incorporated under another law of this state and operating on a cooperative basis may elect, by a vote of a majority of its members voting, to secure the benefits of and be bound by this chapter, and shall subsequently amend any of its articles of association and bylaws that are not in conformity with this chapter. A certified copy of the amended articles of association shall be filed with the secretary of state, and a certified copy of the above vote and a fee of five dollars ($5.00) paid to the secretary of state. Upon the filing and the payment of the fee, the corporation is subsequently, in all respects, governed by the provisions of this chapter.History of Section.P.L. 1947, ch. 1976, § 28; G.L. 1956, § 7-8-32.
RI Gen L § 7-8-33 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-33 - Use of word "cooperative".

§ 7-8-33. Use of word "cooperative".(a) Only associations organized under this chapter, corporations organized on a cooperative basis under any other law of this state, credit unions, unincorporated groups operating on a cooperative basis, and foreign corporations operating on a cooperative basis and authorized to do business in this state, are entitled to use the term "cooperative", or any abbreviation or derivation of the term, as part of their business name, or to represent themselves as conducting business on a cooperative basis. However, any firm or corporation using the word "cooperative" as part of its business name prior to January 1, 1947, is not subject to the provisions of this section.(b) Any person, firm, or corporation violating the above provision shall, upon conviction of the offense, be punished by a fine of not less than twenty-five dollars ($25.00), with an additional fine of not more than two hundred dollars ($200) for each month during which a violation occurs, or by imprisonment for not less than thirty (30) days nor more than one year, or by both fine and imprisonment.History of Section.P.L. 1947, ch. 1976, § 29; G.L. 1956, § 7-8-33.
RI Gen L § 7-8-34 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-34 - Inapplicable law.

§ 7-8-34. Inapplicable law.No law in this state that is conflicting or inconsistent with any part of this chapter shall to the extent of the conflict or inconsistency, be construed as applicable to associations formed by authority of this chapter. Sections 7-1.2-613 and 7-1.2-708 do not apply to associations organized by authority of this chapter.History of Section.P.L. 1947, ch. 1976, § 30; G.L. 1956, § 7-8-34; P.L. 1985, ch. 2, § 1; P.L. 2005, ch. 36, § 6; P.L. 2005, ch. 72, § 6.
RI Gen L § 7-8-35 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-8 - Consumers' Cooperatives|Section 7-8-35 - Severability.

§ 7-8-35. Severability.If any provision of this chapter, or the application of it to any person or circumstance is held unconstitutional or otherwise invalid for any reason, the validity of the remainder of this chapter and the application of the provision to other persons or circumstances is not affected by the invalidity.History of Section.P.L. 1947, ch. 1976, § 31; G.L. 1956, § 7-8-35.
RI Gen L § 7-9-1 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-9 - Additional Powers of Corporations|Section 7-9-1 - Power to enter guaranty and suretyship contracts.

§ 7-9-1. Power to enter guaranty and suretyship contracts.Any company incorporated and organized under the laws of any state of the United States, that has a paid up capital of at least two hundred fifty thousand dollars ($250,000), and that has charter authority to transact business as surety on obligations of persons or corporations, may, upon compliance with all the requirements of law regulating the admission of the companies to transact business in this state, and to the extent of its corporate powers, enter into any contract of guaranty or may be accepted as sole surety upon the bond, undertaking, or obligation of any person or corporation giving bond in this state or required by law to give bond in this state, except as otherwise provided, whether the bond is given in civil or criminal judicial proceedings or for the due performance of the duties of any office or employment, or however otherwise the guaranty, bond, undertaking, or obligation is given; and the company may also be accepted as sole surety upon any recognizance or other obligation of record that any person or corporation may be required by law in any way to enter into in this state.History of Section.G.L. 1896, ch. 186, § 1; P.L. 1902, ch. 1053, § 1; G.L. 1909, ch. 226, § 1; P.L. 1911, ch. 667, § 1; G.L. 1923, ch. 264, § 1; G.L. 1938, ch. 119, § 1; P.L. 1939, ch. 659, § 2; G.L. 1956, § 7-9-1.
RI Gen L § 7-9-2 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-9 - Additional Powers of Corporations|Section 7-9-2 - Power to execute bonds and obligations.

§ 7-9-2. Power to execute bonds and obligations.Any company authorized to do business in this state may make, sign, seal, execute, acknowledge, and deliver any bond, guaranty, undertaking, or any other obligation in this state, or may enter into any recognizance or other obligation of record in this state, by its attorney in fact or by its officer or officers, agent or authorized agents; and the authority from the company may be shown in the same manner that similar authority may be shown in the case of other corporations.History of Section.G.L., ch. 186, § 1, as enacted by P.L. 1902, ch. 1053, § 1; G.L. 1909, ch. 226, § 1; P.L. 1911, ch. 667, § 1; G.L. 1923, ch. 264, § 1; G.L. 1938, ch. 119, § 1; G.L. 1956, § 7-9-2; P.L. 2018, ch. 346, § 10.
RI Gen L § 7-9-3 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-9 - Additional Powers of Corporations|Section 7-9-3 - Acceptance of corporate bond as sole surety.

§ 7-9-3. Acceptance of corporate bond as sole surety.No additional surety is required upon any judicial or official bond or upon any recognizance or other obligation of record, by the judge, head of department, or other officer approving the bond or taking the recognizance, if he or she deems the surety sufficient, but additional surety may be required by him or her, if in his or her discretion necessary. In all bonds, undertakings, or other obligations, and in all recognizances or other obligations of record in which "sureties" are required by law or otherwise in this state, the sole suretyship of any company duly authorized to do business in this state, if deemed sufficient surety by the person, judge, or official approving or accepting the bond, undertaking, or other obligation, or taking the recognizance or other obligation of record, is deemed a full compliance with any requirement for "sureties".History of Section.G.L. 1896, ch. 186, § 1; P.L. 1902, ch. 1053, § 1; G.L. 1909, ch. 226, § 1; P.L. 1911, ch. 667, § 1; G.L. 1923, ch. 264, § 1; G.L. 1938, ch. 119, § 1; G.L. 1956, § 7-9-3.
RI Gen L § 7-9-4 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-9 - Additional Powers of Corporations|Section 7-9-4 - Purpose of provisions.

§ 7-9-4. Purpose of provisions.It is declared to be the true intent and meaning of §§ 7-9-1 — 7-9-7 to enable any company, incorporated and authorized to do business under the laws of this state, to the extent of its corporate powers, to become guarantor in this state, or to become surety upon any bond, undertaking, or other obligation, or to enter into any recognizance or other obligation of record, in any way, to the same extent, with the same rights, and under the same liabilities as any natural person.History of Section.G.L. 1896, ch. 186, § 1; P.L. 1902, ch. 1053, § 1; G.L. 1909, ch. 226, § 1; P.L. 1911, ch. 667, § 1; G.L. 1923, ch. 264, § 1; G.L. 1938, ch. 119, § 1; G.L. 1956, § 7-9-4.
RI Gen L § 7-9-5 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-9 - Additional Powers of Corporations|Section 7-9-5 - Allowance of bonding costs in accounts.

§ 7-9-5. Allowance of bonding costs in accounts.Any court or officer whose duty it is to pass upon the account of any person or corporation required by law to give bond, may, whenever the person or corporation has given any company as surety upon the bond, allow in the settlement of the account a reasonable sum for the expense of procuring the surety.History of Section.G.L. 1896, ch. 186, § 2; P.L. 1902, ch. 1053, § 1; G.L. 1909, ch. 226, § 2; P.L. 1911, ch. 667, § 1; G.L. 1923, ch. 264, § 2; G.L. 1938, ch. 119, § 2; G.L. 1956, § 7-9-5.
RI Gen L § 7-9-6 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-9 - Additional Powers of Corporations|Section 7-9-6 - Premiums for bonds payable to state.

§ 7-9-6. Premiums for bonds payable to state.Whenever, by the laws of this state, any officer is required to give bond to the state, the bond shall be taken by the general treasurer, in the name of the state, from a company authorized to do business in the state, at the state's expense; and the state controller shall draw his or her order for the payment of the cost of the bond out of any money in the treasury not otherwise appropriated, upon the receipt of vouchers for it approved by the general treasurer.History of Section.G.L. 1896, ch. 186, § 4; P.L. 1902, ch. 1053, § 1; G.L. 1909, ch. 226, § 4; P.L. 1911, ch. 667, § 1; G.L. 1923, ch. 264, § 4; G.L. 1938, ch. 119, § 4; impl. am. P.L. 1939, ch. 660, § 65; G.L. 1956, § 7-9-6.
RI Gen L § 7-9-7 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-9 - Additional Powers of Corporations|Section 7-9-7 - Estoppel of corporation to deny authority.

§ 7-9-7. Estoppel of corporation to deny authority.Any company that makes, signs, seals, executes, acknowledges, or delivers any bond, guaranty, undertaking, or other obligation of record in this state, or that enters into any recognizance or other obligation of record whatsoever in this state, under the provisions of §§ 7-9-1 — 7-9-7, is estopped, in any proceedings to enforce the liability which it has assumed to incur, to deny its corporate power to make, sign, seal, execute, acknowledge, or deliver the bond, guaranty, undertaking, or other obligation, or to enter into the recognizance or other obligation of record.History of Section.G.L. 1896, ch. 186, § 3; P.L. 1902, ch. 1053, § 1; G.L. 1909, ch. 226, § 3; P.L. 1911, ch. 667, § 1; G.L. 1923, ch. 264, § 3; G.L. 1938, ch. 119, § 3; G.L. 1956, § 7-9-7.
RI Gen L § 7-9-8 - 7-9-12 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-9 - Additional Powers of Corporations|Section 7-9-8 - 7-9-12 - [Repealed.]

§ 7-9-8 — 7-9-12. [Repealed.]
RI Gen L § 7-10-1 - 7-10-23 (2021)
2021 Rhode Island General Laws|Title 7 - Corporations, Associations and Partnerships|Chapter 7-10 - Transfer of Corporate Stock|Section 7-10-1 - 7-10-23 - [Repealed.]

§ 7-10-1 — 7-10-23. [Repealed.]