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

Rhode Island Statutes

§ 7-15-2 — § 7-15-2. Prohibited activities.

Rhode Island § 7-15-2

Title 7Corporations, Associations and Partnerships

Ch. 7-15Racketeer Influenced and Corrupt Organizations

This text of Rhode Island § 7-15-2 (§ 7-15-2. Prohibited activities.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 7-15-2 (2026).

Text

§ 7-15-2. Prohibited activities.
(a) It is unlawful for any person who has knowingly received any income derived directly
            or indirectly from a racketeering activity or through collection of an unlawful 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 the establishment or operation
            of any enterprise.
         
(b) It is unlawful for any person through a racketeering activity or through collection
            of an unlawful debt to directly or indirectly acquire or maintain any interest in
            or control of any enterprise.
       

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§ 7-15-2. Prohibited activities.

(a) It is unlawful for any person who has knowingly received any income derived directly or indirectly from a racketeering activity or through collection of an unlawful 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 the establishment or operation of any enterprise.

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

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

(d) Provided, that a purchase of securities on the open market for purposes of investment and without the intention of controlling or participating 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 the purchaser, the members of his immediate family, and his or her or their accomplices in a racketeering activity or the collection of an unlawful debt after the purchase do not amount in the aggregate to one percent (1%) of the outstanding 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.