§ 7-1-7 - Fees payable by corporations created by legislative act. - Rhode Island Statutes

SECTION 7-1-7

   § 7-1-7  Fees payable by corporationscreated by legislative act. – Before any corporation, other than a corporation for religious, literary, orcharitable purposes, or a military or fire company, is organized under acharter granted by special act of the general assembly, the petitioners for thecharter shall pay into the general treasury, for the use of the state,one-tenth of one percent (.1%) of the total amount of its authorized capitalstock having par value, and in the case of stock having no par value ten cents¢ ($.10) for each share, but in no case less than one hundred dollars($100); and whenever the authorized capital stock of any such corporation isincreased by special act of the general assembly, the corporation shall payinto the general treasury, for the use of the state, one-tenth of one percent(.1%) of the total amount of the authorized increase in the case of stockhaving par value, and in the case of stock having no par value ten cents¢($.10) for each share of the authorized increase; and the secretary ofstate shall not issue a certified copy of any act creating a corporation, or acertified copy of any act providing for an increase, until the secretaryreceives the certificate of the general treasurer to the effect that therequired sum has been paid.