No real property shall be purchased, leased, held, or improved under this chapter if the cost or value of the property, or the cost of the improvements on it, or all of them on the date of the purchase, lease, or acquisition, plus the book value on the date of all real property held by the company, exceeds twenty percent (20%) of its assets. History of Section.P.L. 1947, ch. 1866, § 1; G.L. 1956, § 27-11-3.
Rhode Island Legal Code