Rhode Island § 19-2-2 - Creation and Expansion
Full text of Rhode Island Rhode Island General Laws § 19-2-2 — Creation and Expansion, with citation guidance and answers to common questions.
§ 19-2-2. Creation and Expansion
R.I. Gen. Laws § 19-2-2
§ 19-2-2. Contents of agreement to form.
(a) Any agreement to form shall state that the subscribers to the agreement associate themselves with the intention of forming a financial institution pursuant to this title to transact business authorized by this title within this state and shall specify:
(1) The name by which the financial institution shall be known, which shall be consistent with words identified with those of financial institutions.
(2) The purpose for which it is formed.
(3) The address at which its business is to be transacted.
(4) For stock-owned companies, the amount of its capital stock, which shall in no event be less than three million dollars ($3,000,000), and the number of shares into which the capital stock is to be divided.
(5) Whether the financial institution intends to exercise trust powers.
(b) Each agreement to form shall contain the name, residence, and post office address of each subscriber, and, for stock-owned companies, the number of shares of stock that each subscriber agrees to take.
History of Section.
P.L. 1995, ch. 82, § 39.
Frequently Asked Questions About Rhode Island § 19-2-2
What does Rhode Island General Laws § 19-2-2 cover?
Section 19-2-2 ("Creation and Expansion") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 19-2-2?
A common citation format is "Rhode Island General Laws § 19-2-2" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 19-2-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.