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.
R.I. Gen. Laws § 7-6.2-11
Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger
P.L. 2017, ch. 370, § 1; P.L. 2017, ch. 378, § 1.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.