{"data":{"id":"us-ri/r.i.-gen.-laws-7-6.1-6","jurisdiction":"us-ri","citation":"R.I. Gen. Laws § 7-6.1-6","heading":"Articles of organization.","body":"Three (3) or more persons who are residents of the state may organize a cooperative housing corporation by filing articles of organization with the secretary of the state. The articles must meet the requirements of chapter 1.2 of this title and shall additionally state:\n(1) Whether transfer of its stock is restricted;\n(2) Whether or not it is authorized to pay dividends on its stock, but no cooperative corporation may pay a dividend of more than ten percent (10%), noncumulative, upon its stock;\n(3) Whether the transfer value of its stock is restricted;\n(4) Whether it is organized as a business or non-business cooperative housing corporation.","path":["Title 7 Corporations, Associations, and Partnerships","Chapter 6.1 Cooperative Housing Corporations"],"source_url":"https://webserver.rilegislature.gov/Statutes/TITLE7/7-6.1/7-6.1-6.htm","current_through":"site files published 2025-08-13","vintage":"","retrieved_at":"2026-09-05T19:09:59Z","sha256":"244429f24f43bbf8632695328f09ef089af48321a8eeea5873cc726927b5fcec","source_id":"us-ri","stale":true,"prev":"us-ri/r.i.-gen.-laws-7-6.1-5","next":"us-ri/r.i.-gen.-laws-7-6.1-7"},"notice":"GroundRules: Original legal text. Not legal advice."}