Rhode Island General Laws > Chapter 7-12.1 > Article 11 > Part 3 – Interest Exchange
Terms Used In Rhode Island General Laws > Chapter 7-12.1 > Article 11 > Part 3 - Interest Exchange
- Acquired entity: means the entity, all of one or more classes or series of interests of which are acquired in an interest exchange. See Rhode Island General Laws 7-12.1-1101
- Acquiring entity: means the entity that acquires all of one or more classes or series of interests of the acquired entity in an interest exchange. See Rhode Island General Laws 7-12.1-1101
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Appraisal: A determination of property value.
- Buyer: means a person who buys or contracts to buy goods. See Rhode Island General Laws 6A-2-103
- Commercial fertilizer: means any substance containing one or more recognized plant nutrient(s) that is used for its plant nutrient content and that is designed for use or claimed to have value in promoting plant growth, except unmanipulated animal and vegetable manures, marl, lime, limestone, wood ashes and gypsum, and other products exempted by regulation of the director. See Rhode Island General Laws 2-7-3
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Director: means the director of the department of environmental management of the state of Rhode Island and/or his or her authorized deputies or agents. See Rhode Island General Laws 2-6-2
- Director: means director of the department of environmental management or his or her authorized agent. See Rhode Island General Laws 2-7-3
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Interest: means :
(i) A share in a business corporation;
(ii) A membership in a nonprofit corporation;
(iii) A partnership interest in a general partnership;
(iv) A partnership interest in a limited partnership;
(v) A membership interest in a limited liability company;
(vi) A share in a general cooperative association;
(vii) A member's interest in a limited cooperative association;
(viii) A membership in an unincorporated nonprofit association;
(ix) A beneficial interest in a statutory trust, business trust, or common-law business trust; or
(x) A governance interest or distributional interest in any other type of unincorporated entity. See Rhode Island General Laws 7-12.1-1101
- Interest exchange: means a transaction authorized by Rhode Island General Laws 7-12.1-1101
- Interest holder: means :
(i) A shareholder of a business corporation;
(ii) A member of a nonprofit corporation;
(iii) A general partner of a general partnership;
(iv) A general partner of a limited partnership;
(v) A limited partner of a limited partnership;
(vi) A member of a limited liability company;
(vii) A shareholder of a general cooperative association;
(viii) A member of a limited cooperative association;
(ix) A member of an unincorporated nonprofit association;
(x) A beneficiary or beneficial owner of a statutory trust, business trust, or common-law business trust; or
(xi) Any other direct holder of an interest. See Rhode Island General Laws 7-12.1-1101
- Interest holder liability: means :
(i) Personal liability for a liability of an entity which is imposed on a person:
(A) Solely by reason of the status of the person as an interest holder; or
(B) By the organic rules of the entity which make one or more specified interest holders or categories of interest holders liable in their capacity as interest holders for all or specified liabilities of the entity; or
(ii) An obligation of an interest holder under the organic rules of an entity to contribute to the entity. See Rhode Island General Laws 7-12.1-1101
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lot: means a definite quantity of seed identified by a lot number or other mark, every portion or bag of which is uniform within recognized tolerances for the factors which appear in the labeling. See Rhode Island General Laws 2-6-2
- Merger: means a transaction authorized by Rhode Island General Laws 7-12.1-1101
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Organic law: means the law of an entity's jurisdiction of formation governing the internal affairs of the entity. See Rhode Island General Laws 7-12.1-1101
- Organic rules: means the public organic record and private organic rules of an entity. See Rhode Island General Laws 7-12.1-1101
- Partner: means a person that:
(i) Has become a partner in a partnership under Rhode Island General Laws 7-12.1-102
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership agreement: means the agreement, whether or not referred to as a partnership agreement and whether oral, implied, in a record, or in any combination thereof, of all the partners of a partnership concerning the matters described in Rhode Island General Laws 7-12.1-102
- Person: means an individual, business corporation, nonprofit corporation, partnership, limited partnership, limited liability company, general cooperative association, limited cooperative association, unincorporated nonprofit association, statutory trust, business trust, common-law business trust, estate, trust, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Rhode Island General Laws 7-12.1-102
- Person: means any individual, partnership, corporation, company, society, or association. See Rhode Island General Laws 2-6-2
- Plan: means a plan of merger, plan of interest exchange, plan of conversion, or plan of domestication. See Rhode Island General Laws 7-12.1-1101
- Plan of interest exchange: means a plan under Rhode Island General Laws 7-12.1-1101
- Property: means all property, whether real, personal, or mixed or tangible or intangible, or any right or interest therein. See Rhode Island General Laws 7-12.1-102
- Protected agreement: means :
(i) A record evidencing indebtedness and any related agreement in effect on January 1, 2023;
(ii) An agreement that is binding on an entity on January 1, 2023;
(iii) The organic rules of an entity in effect on January 1, 2023; or
(iv) An agreement that is binding on any of the governors or interest holders of an entity on January 1, 2023. See Rhode Island General Laws 7-12.1-1101
- Seller: means a person who sells or contracts to sell goods. See Rhode Island General Laws 6A-2-103
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Rhode Island General Laws 7-12.1-102
- Statement of interest exchange: means a statement under Rhode Island General Laws 7-12.1-1101
- Type of entity: means a generic form of entity:
(i) Recognized at common law; or
(ii) Formed under an organic law, whether or not some entities formed under that organic law are subject to provisions of that law that create different categories of the form of entity. See Rhode Island General Laws 7-12.1-1101