Rhode Island § 7-8-22 § 7-8-22. Recall of shares.

Rhode Island Statutes

§ 7-8-22 — § 7-8-22. Recall of shares.

Rhode Island § 7-8-22

Title 7Corporations, Associations and Partnerships

Ch. 7-8Consumersâ€™ Cooperatives

This text of Rhode Island § 7-8-22 (§ 7-8-22. Recall of shares.) 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 § 7-8-22 (2026).

Text

§ 7-8-22. Recall of shares.
The bylaws may give the directors the power to use the reserve funds to recall, at
            par value, the holdings of any member in excess of the amount requisite for membership.
            The bylaws may also provide that if any member has failed to patronize the association
            during a period of time specified in the bylaws, the directors may use reserve funds
            to recall all of his or her holdings, and he or she at that time ceases to be a member
            of the association.
         

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§ 7-8-22. Recall of shares.

The bylaws may give the directors the power to use the reserve funds to recall, at par value, the holdings of any member in excess of the amount requisite for membership. The bylaws may also provide that if any member has failed to patronize the association during a period of time specified in the bylaws, the directors may use reserve funds to recall all of his or her holdings, and he or she at that time ceases to be a member of the association.