Rhode Island General Laws 7-8-27. Contents of annual report
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The annual report of an association shall include a statement of the receipts, expenditures, assets, and liabilities of the association, and shall, in the case of a nonshare association, include, in lieu of the statement concerning its authorized and issued capital stock required by § 7-1.2-1501, a statement of the total number of members, the number admitted and withdrawn during the year, and the amount of membership fees received.
History of Section.
P.L. 1947, ch. 1976, § 23; G.L. 1956, § 7-8-27; P.L. 1985, ch. 2, § 1; P.L. 2005, ch. 36, § 6; P.L. 2005, ch. 72, § 6.
Terms Used In Rhode Island General Laws 7-8-27
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means any corporation formed under this chapter. See Rhode Island General Laws 7-8-2
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Membership: means , in the case of a share association, the status whereby a shareholder becomes entitled to all the rights, including, but not limited to, the right of voting and of receiving dividends on shares, and apportionment of net savings in cash, which accrue to him or her under the articles of association and bylaws upon the acquisition of the minimum number of shares of stock required by the articles of association for membership and upon fulfillment of the eligibility requirements of the association. See Rhode Island General Laws 7-8-2