§ 7-15-2 - Prohibited activities. - Rhode Island Statutes

SECTION 7-15-2

   § 7-15-2  Prohibited activities. – (a) It is unlawful for any person who has knowingly received any income deriveddirectly or indirectly from a racketeering activity or through collection of anunlawful debt, to directly or indirectly use or invest any part of that income,or the proceeds of that income in the acquisition of an interest in, or theestablishment or operation of any enterprise.

   (b) It is unlawful for any person through a racketeeringactivity or through collection of an unlawful debt to directly or indirectlyacquire or maintain any interest in or control of any enterprise.

   (c) It is unlawful for any person employed by or associatedwith any enterprise to conduct or participate in the conduct of the affairs ofthe enterprise through racketeering activity or collection of an unlawful debt.

   (d) Provided, that a purchase of securities on the openmarket for purposes of investment and without the intention of controlling orparticipating in the control of the issuer, or of assisting another to do so,is not unlawful under this section if the securities of the issuer held by thepurchaser, the members of his immediate family, and his or her or theiraccomplices in a racketeering activity or the collection of an unlawful debtafter the purchase do not amount in the aggregate to one percent (1%) of theoutstanding securities of any one class, and do not, either in law or in fact,confer the power to elect one or more directors of the issuer.