Corporations, Associations, and Partnerships
§ 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.
(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.)