R.I. Gen. Laws § 7-8-23

Impairment of solvency prohibited

Known as the Consumer Cooperative Association Law

The act spans §§ 7–7 (35 sections).

P.L. 1947, ch. 1976, § 18; G.L. 1956, § 7-8-23.

No purchase or recall shall be made by the directors under § 7-8-20 or any other section if to do so would impair the solvency of the association.

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.