Section 7-16-73. – Construction with other laws.
§ 7-16-73. Construction with other laws. (a) Unless the provisions of this chapter or the context indicate otherwise, each reference in the general laws to a “person” is deemed to include a limited-liability company, and each reference to a “corporation”, except for references in the Rhode Island Business and Nonprofit Corporation Acts, and except with […]
Section 7-16-74. – Forms to be furnished by secretary of state.
§ 7-16-74. Forms to be furnished by secretary of state. All documents required by this chapter to be filed in the office of the secretary of state shall be made on forms that shall be prescribed by the secretary of state. Forms for all documents to be filed in the office of the secretary of […]
Section 7-16-75. – Reservation of power.
§ 7-16-75. Reservation of power. The general assembly shall at all times have power to prescribe any regulations, provisions and limitations that it deems advisable, which regulations, provisions and limitations are binding on any limited-liability companies subject to the provisions of this chapter, and the general assembly has power to amend, repeal or modify this […]
Section 7-16-76. – Low-profit limited-liability company.
§ 7-16-76. Low-profit limited-liability company. (a) A low-profit limited-liability company shall at all times significantly further the accomplishment of one or more charitable or educational purposes within the meaning of § 170(c)(2)(B) of the Internal Revenue Code of 1986, 26 U.S.C. § 170(c)(2)(B), or its successor, and would not have been formed but for the […]
Section 7-16-55. – Action to restrain foreign limited-liability company.
§ 7-16-55. Action to restrain foreign limited-liability company. The attorney general of this state may maintain an action in the superior court to restrain any foreign limited-liability company or any of its agents from transacting any business in this state in violation of this chapter or if the limited-liability company has failed to comply with […]
Section 7-16-70. – Parties to actions.
§ 7-16-70. Parties to actions. A member of a limited-liability company is not a proper party to proceedings by or against a limited-liability company, except for an action brought under § 7-16-56 and except where the object is to enforce a member’s right against or liability to the limited-liability company. History of Section.P.L. 1992, ch. […]
Section 7-16-56. – Right of member to bring derivative action.
§ 7-16-56. Right of member to bring derivative action. A member may bring an action on behalf of the limited-liability company to recover a judgment in its favor if all of the following conditions are met: (1) The member does not have the authority to cause the limited-liability company to sue in its own right […]
Section 7-16-71. – Unauthorized assumption of powers.
§ 7-16-71. Unauthorized assumption of powers. All persons who assume to act as a limited-liability company without authority to do so are jointly and severally liable for all debts and liabilities. History of Section.P.L. 1992, ch. 280, § 1.
Section 7-16-57. – Pleading in derivative action.
§ 7-16-57. Pleading in derivative action. In a derivative action, the complaint shall set forth with particularity the effort of the plaintiff to secure initiation of the action by the managers or the members who would otherwise have the authority to cause the limited-liability company to sue in its own right or why such effort […]
Section 7-16-72. – Severability.
§ 7-16-72. Severability. If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter that can be given effect without the invalid provision or application. To this end, the provisions of this chapter are severable. History of […]