§ 7-5-19 — § 7-5-19. Dissolution of quasi-municipal corporations and financial institutions.

Rhode Island § 7-5-19

• Jurisdiction: Rhode Island
• Title 7: Corporations, Associations and Partnerships
• Ch. 7-5: Business Corporations — Reorganization, Dissolution, and Sale of Assets

Text

§ 7-5-19. Dissolution of quasi-municipal corporations and financial institutions.

When any quasi-municipal corporation, bank, savings bank, trust company, or loan and investment company has been liquidated in voluntary liquidation, or in receivership or otherwise, according to law, the corporation may be dissolved by decree of the superior court upon application filed, in the case of a quasi-municipal corporation, by any of its members or qualified electors or by the attorney general, and in the case of any bank, savings bank, trust company, or loan and investment company, by the administrator of banking and insurance or by any stockholder, trustee, or incorporator, with the consent, in writing, of the administrator of banking and insurance; and upon any reasonable notice in each case, that the court prescribes.

Legislative History

G.L. 1923, ch. 248, § 57; P.L. 1932, ch. 1958, § 1; G.L. 1938, ch. 116, § 57; P.L. 1945, ch. 1610, § 1; G.L. 1956, § 7-5-19.