§ 19-4-13 - Continuance of business after suspension prohibited. - Rhode Island Statutes

SECTION 19-4-13

   § 19-4-13  Continuance of business aftersuspension prohibited. – After suspension of the right of a regulated institution to do business, theregulated institution affected shall cease to have any right to continue itsbusiness, except for the purpose of winding up the affairs of the regulatedinstitution. Any officers, directors, or agents of the regulated institutionthereafter selling shares of the regulated institution, or soliciting businessfor the regulated institution, shall be guilty of a misdemeanor, and uponconviction thereof shall be fined not more than one thousand dollars ($1,000)for each offense.