State Codes and Statutes
Statutes > Rhode-island > Title-19 > Chapter-19-2 > 19-2-7SECTION 19-2-7
§ 19-2-7 Approval of certificate –Filing – Fee on capital stock. – The certificate in section 19-2-6 shall be submitted to the director or thedirector's designee, together with the records of the first meeting, and thedirector or the director's designee shall examine the certificate and records,and may require an amendment of the certificate and records or any additionalinformation the director may consider necessary. If the director finds that thecertificate and records conform to the provisions of the preceding sectionsrelative to the organization of the financial institution, and to theprovisions of this title, and that the provisions of this title have beencomplied with, and that public convenience and advantage will be promoted bythe establishment of the financial institution, the director or the director'sdesignee shall endorse his or her approval on the certificate, and shallmaintain a copy of the certificate, together with the copy of the records ofthe first meeting. Upon approval of the certificate by the director or thedirector's designee, the certificate shall be filed in the office of thesecretary of state, together with the certificate of the general treasurer thatthe subscribers have paid into the treasury for the use of the state a sumequal to one-tenth of one percent (.1%) of the amount of capital stock.
