§ 42-116-5.1 - Sale of property. - Rhode Island Statutes

SECTION 42-116-5.1

   § 42-116-5.1  Sale of property. – Notwithstanding any other provision of this chapter, the corporation shall notsell or convey any property valued at more than five hundred dollars ($500)unless and until the buyers of the property disclose their identity in a publicrecord. For the purposes of this section, the term "identity" shall beconstrued as all shareholders of corporations, which are not publicly held, allgeneral and limited partners of partnerships, and in the case of a limitedliability company, all officers, managers and members of the company.