Rhode Island § 7-6.2-11 § 7-6.2-11. Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger.

Rhode Island Statutes

§ 7-6.2-11 — § 7-6.2-11. Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger.

Rhode Island·Title 7 Corporations, Associations and Partnerships·Ch. 7-6.2 Workersâ€™ Cooperatives

§ 7-6.2-11. Conversion of membership shares and internal capital accounts upon revocation of election;
               consolidation or merger.
When any workers' cooperative revokes its election in accordance with § 7-6.2-5, an amendment of the certificate of incorporation shall provide for the conversion
            of membership shares and internal capital accounts, or their conversion to securities
            or other property in a manner consistent with the provisions of chapter 1.2 of title 7.
         

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§ 7-6.2-11. Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger.

When any workers' cooperative revokes its election in accordance with § 7-6.2-5, an amendment of the certificate of incorporation shall provide for the conversion of membership shares and internal capital accounts, or their conversion to securities or other property in a manner consistent with the provisions of chapter 1.2 of title 7.

Rhode Island § 7-6.2-11 (§ 7-6.2-11. Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.