Statutes, codes, and regulations
General Laws of Rhode Island
Title 7 - CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS
Chapter 7-8 - CONSUMERS' COOPERATIVES
Section 7-8-20 - Association's preemptive right to repurchase shares

R.I. Gen. Laws § 7-8-20

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Current through 2024 Public Law 457
Section 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.

R.I. Gen. Laws § 7-8-20

P.L. 1947, ch. 1976, § 18; G.L. 1956, § 7-8-20.