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



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



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



(3)  The purposes and powers of the association;



(4)  The duration of the association;



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



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



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



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



(b)  The articles may also contain any other
provisions, consistent with law for regulating the association's business or
the conduct of its affairs. [L 1984, c 217, §4; am L 1988, c 373, §23; am L
2003, c 124, §46]