Corporations, Associations, and Partnerships

Consumers' Cooperatives

SECTION 7-8-32

§ 7-8-32. Acceptance of chapter by cooperatives formed under other law.

Any corporation incorporated under another law of this state and operating on a cooperative basis may elect, by a vote of a majority of its members voting, to secure the benefits of and be bound by this chapter, and shall subsequently amend any of its articles of association and bylaws that are not in conformity with this chapter. A certified copy of the amended articles of association shall be filed with the secretary of state, and a certified copy of the above vote and a fee of five dollars ($5.00) paid to the secretary of state. Upon the filing and the payment of the fee, the corporation is subsequently, in all respects, governed by the provisions of this chapter.

History of Section.
(P.L. 1947, ch. 1976, § 28; G.L. 1956, § 7-8-32.)