Rhode Island General Laws 7-8-33. Use of word “cooperative”
(a) Only associations organized under this chapter, corporations organized on a cooperative basis under any other law of this state, credit unions, unincorporated groups operating on a cooperative basis, and foreign corporations operating on a cooperative basis and authorized to do business in this state, are entitled to use the term “cooperative”, or any abbreviation or derivation of the term, as part of their business name, or to represent themselves as conducting business on a cooperative basis. However, any firm or corporation using the word “cooperative” as part of its business name prior to January 1, 1947, is not subject to the provisions of this section.
Terms Used In Rhode Island General Laws 7-8-33
- Conviction: A judgement of guilt against a criminal defendant.
- 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.
- person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
(b) Any person, firm, or corporation violating the above provision shall, upon conviction of the offense, be punished by a fine of not less than twenty-five dollars ($25.00), with an additional fine of not more than two hundred dollars ($200) for each month during which a violation occurs, or by imprisonment for not less than thirty (30) days nor more than one year, or by both fine and imprisonment.
History of Section.
P.L. 1947, ch. 1976, § 29; G.L. 1956, § 7-8-33.