Rhode Island General Laws 7-5.1-4. Investments
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Nothing contained in these provisions is to be interpreted to prohibit any corporation organized under this chapter from investing its funds in real estate, mortgages, stocks, bonds, or any investment not otherwise prohibited by the general corporation law, or from owning real or personal property appropriate to the rendering of professional services.
History of Section.
P.L. 1964, ch. 185, § 1.
Terms Used In Rhode Island General Laws 7-5.1-4
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Personal property: All property that is not real property.
- Professional services: means the rendering of personal services by a person authorized to practice as one of the following professions as defined:
(i) Physicians;
(ii) Dentists;
(iii) Attorneys at law;
(iv) [Deleted by P. See Rhode Island General Laws 7-5.1-2
- real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10