{"data":{"id":"us-ri/r.i.-gen.-laws-7-6.2-6","jurisdiction":"us-ri","citation":"R.I. Gen. Laws § 7-6.2-6","heading":"Members — Membership shares — Fees — Rights and responsibilities.","body":"(a) The certificate of incorporation or the bylaws shall establish qualifications and the method of acceptance and termination of members. Upon completion of their probationary period, all regular full-time or part-time employees shall be offered membership in the workers’ cooperative. Acceptance as a member in a workers’ cooperative shall be evidenced by a membership share, which shall be issued for a fee, to be paid in such terms and conditions as are provided in the bylaws.\n(b) A workers’ cooperative shall issue a class of voting stock designated as “membership shares”. Each member shall own only one membership share, and only members may own membership shares.\n(c) Membership shares shall be issued for a fee as shall be determined from time to time by the directors. No certificate for a membership share shall be issued until its fee has been paid in full. Each member is entitled to a certificate for his or her membership share upon fulfilling the requirements in the cooperative’s articles of incorporation and bylaws.\n(d) Members of a workers’ cooperative shall have all the rights and responsibilities of stockholders of a corporation organized under the provisions of chapter 1.2 of title 7, except as otherwise provided in this chapter.","path":["Title 7 Corporations, Associations, and Partnerships","Chapter 6.2 Workers’ Cooperatives"],"source_url":"https://webserver.rilegislature.gov/Statutes/TITLE7/7-6.2/7-6.2-6.htm","current_through":"site files published 2025-08-13","vintage":"","retrieved_at":"2026-09-05T19:11:09Z","sha256":"b6b927742d221ee072f2375a9f072224ae5aba2606eff112dc22cfe63b598ce2","source_id":"us-ri","stale":true,"prev":"us-ri/r.i.-gen.-laws-7-6.2-5","next":"us-ri/r.i.-gen.-laws-7-6.2-7"},"notice":"GroundRules: Original legal text. Not legal advice."}