§ 7-8-17 - Membership of organizations – Payment of capital as prerequisite to membership. - Rhode Island Statutes

SECTION 7-8-17

   § 7-8-17  Membership of organizations– Payment of capital as prerequisite to membership. – No corporation or organization or group of any kind is eligible to membershipin an association unless it is organized on a cooperative or nonprofit basis,and no person, association, or organization or group of any kind is deemed amember of an association until the association has received payment in full forthe par value of the minimum amount of share or membership capital stated inthe articles as necessary to qualify for membership.