§ 7-8-4 - Application of general corporation law. - Rhode Island Statutes

SECTION 7-8-4

   § 7-8-4  Application of general corporationlaw. – (a) The provisions of chapter 1.2 of this title apply to associations formedunder this chapter, except insofar as they are inconsistent with this chapter.

   (b) Wherever, in chapter 1.2 the word "stockholder" or"stockholders" is used, the word shall be construed, where appropriate, toinclude within its meaning members in associations formed without capitalstock. Nothing contained in these chapters, however, shall be construed topermit associations formed under the provisions of this chapter to issue stockwithout par value.