RI S2761

Establishes a statutory business judgment rule presuming directors acted properly if they acted in good faith, without personal interest, were reasonably informed, and rationally believed the decision served the corporation's best interests

Creates a Court of Chancery with 5 chancellors serving 10-year terms to hear equity disputes including fiduciary duty claims, governance matters, and business disputes without juries

Imposes a new annual franchise tax: $450 minimum for LLCs, partnerships, and statutory trusts; $450-$1,000 for corporations based on authorized shares (scaling from ≤5,000 shares to >10,000 shares)

Increases homestead estate exemption from $500,000 to unlimited value effective July 1, 2026, providing automatic protection from creditors without requiring a declaration filing

Allows formation of anonymous LLCs without public disclosure of member/manager names, permits "dynasty trusts" lasting up to 1,000 years, and establishes a Rhode Island Rapid Arbitration Act requiring final awards within 120 days