§414-32  Articles of incorporation. 
(a)  [Subsection effective until June 30, 2010.  For subsection effective
July 1, 2010, see below.]  The articles of incorporation shall set forth:



(1)  A corporate name for the corporation that
satisfies the requirements of section 414-51;



(2)  The number of shares the corporation is
authorized to issue;



(3)  The mailing address of the corporation's initial
principal office, the street address of the corporation's initial registered
office, and the name of its initial registered agent at its initial registered
office; and



(4)  The name and address of each incorporator.



(a)  [Subsection effective July 1, 2010. 
For subsection effective until June 30, 2010, see above.]  The articles of
incorporation shall set forth:



(1)  A corporate name for the corporation that
satisfies the requirements of section 414-51;



(2)  The number of shares the corporation is
authorized to issue;



(3)  The mailing address of the corporation's initial
principal office and the information required by section 425R-4(a); and



(4)  The name and address of each incorporator.



(b)  The articles of incorporation may set
forth:



(1)  The names and addresses of the individuals who
are to serve as the initial directors;



(2)  Provisions not inconsistent with law regarding:



(A)  The purpose or purposes for which the
corporation is organized;



(B)  Managing the business and regulating the
affairs of the corporation;



(C)  Defining, limiting, and regulating the
powers of the corporation, its board of directors, and shareholders;



(D)  A par value for authorized shares or
classes of shares; and



(E)  The imposition of personal liability on
shareholders for the debts of the corporation to a specified extent and upon
specified conditions;



(3)  Any provision that under this chapter is required
or permitted to be set forth in the bylaws;



(4)  A provision eliminating or limiting the liability
of a director to the corporation or its shareholders for money damages for any
action taken, or any failure to take any action, as a director, subject to
section 414-222; and



(5)  A provision permitting or making obligatory
indemnification of a director for liability (as defined in section [414-241])
to any person for any action taken, or any failure to take any action, as a
director, except liability for:



(A)  Receipt of a financial benefit to which
the director is not entitled;



(B)  An intentional infliction of harm on the
corporation or its shareholders;



(C)  A violation of section 414-223; or



(D)  An intentional violation of criminal law.



(c)  The articles of incorporation need not set
forth any of the corporate powers enumerated in this chapter. [L 2000, c 244,
pt of §1; am L 2002, c 130, §10; am L 2009, c 55, §4]