Statutes > Rhode Island Statutes > Title 7 - Corporations, Associations and Partnerships > CHAPTER 7-8 - Consumers' Cooperatives > § 7-8-20 - Association's pre-emptive right to repurchase shares.

§ 7-8-20 - Association's pre-emptive right to repurchase shares.

SECTION 7-8-20

   § 7-8-20  Association's pre-emptive rightto repurchase shares. – If any holder of shares desires to dispose of any or all of his or her holdingsin the association, he or she shall offer the holdings to the association, andthe directors have the power to purchase, within ninety (90) days of the offer,the holdings by paying the member the par value of any or all of the holdingsoffered.