§421C-11.5  Articles.  (a)  Articlesshall be certified and executed by each of the incorporators, if naturalpersons, and by the president and secretary of the association, before anyofficer authorized to take acknowledgments, and shall contain the following:

(1)  The name of the association which shall containthe term "cooperative" or some abbreviation thereof notwithstandingsection 421-5;

(2)  The mailing address and zip code of its principaloffice, which shall be in the State, the street address of the association'sinitial registered office, and the name of its initial registered agent at itsinitial registered office;

(3)  The purposes and powers of the association;

(4)  The duration of the association;

(5)  The number, names, and titles of the initialofficers and directors, or similar officers;

(6)  The names and addresses of the incorporators, andif organized with stock, a statement of the number of shares subscribed byeach, which shall not be less than one, and the class of shares for which eachsubscribed;

(7)  If organized with stock, the total authorizednumber of shares and the par value of each share, if any; and if more than oneclass of stock is authorized, a description of the classes of shares, thenumber of shares in each class, the relative rights, preferences, andrestrictions granted to or imposed upon the shares of each class, and theinterest-dividends to which each class shall be entitled; and

(8)  If organized without stock, whether the propertyrights and interest of each member are equal or unequal, and if unequal, therule by which the rights and interest shall be determined.

(b)  The articles may also contain any otherprovisions, consistent with law for regulating the association's business orthe conduct of its affairs. [L 1984, c 217, §4; am L 1988, c 373, §23; am L2003, c 124, §46]