§ 7-1-5.2 - Mutual insurance associations – Applicability of chapter. - Rhode Island Statutes

SECTION 7-1-5.2

   § 7-1-5.2  Mutual insurance associations– Applicability of chapter. – Notwithstanding any provision of § 7-1-5 to the contrary, and withoutintending to limit those sections of chapter 1.2 of this title which may not beapplicable to mutual associations by reason of the fact that those associationsdo not have shareholders, the following sections of chapter 1.2 of this titledo not apply to any insurance company organized as a mutual association: §7-1.2-601 (Right of corporation to acquire dispose of and cancel its ownshares); § 7-1.2-602 (Authorized shares; shares in classes or series;issuance of shares); § 7-1.2-705 (Quorum of shareholders required forshareholders' action); § 7-1.2-1201 (Rights of shareholders to dissent);§ 7-1.2-1202 (Rights of dissenting shareholders); § 7-1.2-1315(Avoidance of dissolution by share buyout); and § 7-1.2-1602(c)(2)(License fees payable by domestic corporations).