Continuation of certain corporate powers.
R.I. Gen. Laws § 7-1.2-1325
in effect7-1.2-1325. Continuation of certain corporate powers.
Any corporation dissolved in any manner under this chapter or any corporation whose
existence is terminated under § 44-12-8 or any corporation whose articles of incorporation are revoked by the secretary of
state under § 7-1.2-1310 nevertheless continues for five (5) years after the date of the dissolution, termination,
or revocation for the purpose of enabling it to settle and close its affairs, to dispose
of and convey its property, to discharge its liabilities, and to distribute its assets,
but not for the purpose of continuing the business for which it was organized. The
shareholders, directors, and officers have power to take any corporate or other action
that is appropriate to carry out the purposes of this section.
P.L. 2004, ch. 216, § 2; P.L. 2004, ch. 274, § 2.
Source: State of Rhode Island General Assembly (rilegislature.gov)URL: https://webserver.rilegislature.gov/Statutes/TITLE7/7-1.2/7-13/7-1.2-1325.htmFetched: 10/20/2026