§ 7-1.2-605 - Par value per share. - Rhode Island Statutes

SECTION 7-1.2-605

   § 7-1.2-605  Par value per share. –Solely for the purpose of any statute or regulation imposing any tax or feebased upon the capitalization of a corporation, unless otherwise stated in thearticles of incorporation, all authorized shares of a corporation organizedunder this chapter are deemed to have a nominal or par value of one cent($0.01) per share. If any federal or other statute or regulation applicable toa particular corporation requires that the shares of such corporation have apar value, such shares have the par value determined by the board of directorsin order to satisfy the requirements of such statute or regulation.