Rhode Island § 7-6-7 § 7-6-7. Guarantee authorized by members.

Rhode Island Statutes

§ 7-6-7 — § 7-6-7. Guarantee authorized by members.

Rhode Island·Title 7 Corporations, Associations and Partnerships·Ch. 7-6 Rhode Island Nonprofit Corporation Act

§ 7-6-7. Guarantee authorized by members.
Each corporation has the power to make guarantees, although not in furtherance of
            its corporate purposes, when authorized at a meeting of members by the affirmative
            vote of a majority of the members entitled to vote on the guarantees, or a greater
            percentage that may be provided by the articles of incorporation or bylaws, or if
            there are no members, or no members entitled to vote on the guarantees, by the affirmative
            vote of a majority of the directors in office, or a greater percentage that is provided
            by the articles of incorporation or bylaws. If authorized by a like vote, a corporation
            has th

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§ 7-6-7. Guarantee authorized by members.

Each corporation has the power to make guarantees, although not in furtherance of its corporate purposes, when authorized at a meeting of members by the affirmative vote of a majority of the members entitled to vote on the guarantees, or a greater percentage that may be provided by the articles of incorporation or bylaws, or if there are no members, or no members entitled to vote on the guarantees, by the affirmative vote of a majority of the directors in office, or a greater percentage that is provided by the articles of incorporation or bylaws. If authorized by a like vote, a corporation has the power to mortgage, pledge, or give a security interest in all or any of its property, franchises, and income to secure the guarantee or to secure obligations other than its own.

Rhode Island § 7-6-7 (§ 7-6-7. Guarantee authorized by members.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.