AN ACT RELATING TO CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS -- RHODE ISLAND BUSINESS CORPORATION ACT
Committee recommended measure be held for further study
Summary
The bill changes the Rhode Island Business Corporation Act so that any foreign corporation, trust, or similar entity that does business in the state must first get a certificate of authority from the secretary of state. It lists many activities that do not count as doing business, defines physical presence, and adds rules for insurance claim handling services. It also sets fees, taxes, and civil penalties for companies that operate without the certificate and gives the attorney general and courts power to enforce the rules.
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