§ 7-8-31. Exemption from securities law.
The provisions of chapter 11 of this title do not apply to shares of stock of, or memberships in, associations formed under this chapter, or associations formed under like laws of other states, territories, the District of Columbia, or the United States, nor to persons selling shares of stock of, or memberships in, the associations.
(P.L. 1947, ch. 1976, § 27; G.L. 1956, § 7-8-31.)