§ 7-7-3 Contents and filing of articles ofassociation. – The persons shall sign and file in duplicate written articles of association,which shall be signed by all of the incorporators and which shall beacknowledged by them in the manner in which deeds of real estate are requiredto be acknowledged within this state, and the residences of the incorporatorsshall be stated opposite their names. In the articles of association theincorporators shall recite that they desire to become incorporated under theprovisions of this chapter and shall state:
(1) The name of the association, which shall contain the word"cooperative" and which shall not be the same as that of any other associationor corporation formed or doing business in this state or so similar in name asto be likely to be confused with it.
(2) The objects or purposes for which it is formed.
(3) The place where its principal office is to be located.
(4) The term for which it is to exist.
(5) Whether formed with or without capital stock, and ifformed with capital stock, the total amount of the authorized capital stock ofthe corporation, the number of shares into which the stock is divided and thepar value of each share, except in the case of a corporation having stock orany class of stock without par value, in which case the articles of associationregarding the stock, in lieu of the above, shall state the total number ofshares authorized and that they are without par value; the restrictions, ifany, imposed on the transfer of stock; and, if there be two (2) or more classesof stock, a description of the different classes and a statement of the termson which they are created.
(6) In addition to the above, the articles of incorporationof any association incorporated under this chapter may contain any provisionconsistent with law with respect to management, regulation, government,financing, indebtedness, membership, the establishment of voting districts andthe election of delegates for representative purposes, the issuance,retirement, and transfer of its stock, if formed with capital stock, or anyprovisions relative to the manner in which it operates or as to its members,officers, or directors and any other provisions relating to its affairs.
§ 7-7-3 Contents and filing of articles ofassociation. – The persons shall sign and file in duplicate written articles of association,which shall be signed by all of the incorporators and which shall beacknowledged by them in the manner in which deeds of real estate are requiredto be acknowledged within this state, and the residences of the incorporatorsshall be stated opposite their names. In the articles of association theincorporators shall recite that they desire to become incorporated under theprovisions of this chapter and shall state:
(1) The name of the association, which shall contain the word"cooperative" and which shall not be the same as that of any other associationor corporation formed or doing business in this state or so similar in name asto be likely to be confused with it.
(2) The objects or purposes for which it is formed.
(3) The place where its principal office is to be located.
(4) The term for which it is to exist.
(5) Whether formed with or without capital stock, and ifformed with capital stock, the total amount of the authorized capital stock ofthe corporation, the number of shares into which the stock is divided and thepar value of each share, except in the case of a corporation having stock orany class of stock without par value, in which case the articles of associationregarding the stock, in lieu of the above, shall state the total number ofshares authorized and that they are without par value; the restrictions, ifany, imposed on the transfer of stock; and, if there be two (2) or more classesof stock, a description of the different classes and a statement of the termson which they are created.
(6) In addition to the above, the articles of incorporationof any association incorporated under this chapter may contain any provisionconsistent with law with respect to management, regulation, government,financing, indebtedness, membership, the establishment of voting districts andthe election of delegates for representative purposes, the issuance,retirement, and transfer of its stock, if formed with capital stock, or anyprovisions relative to the manner in which it operates or as to its members,officers, or directors and any other provisions relating to its affairs.
§ 7-7-3 Contents and filing of articles ofassociation. – The persons shall sign and file in duplicate written articles of association,which shall be signed by all of the incorporators and which shall beacknowledged by them in the manner in which deeds of real estate are requiredto be acknowledged within this state, and the residences of the incorporatorsshall be stated opposite their names. In the articles of association theincorporators shall recite that they desire to become incorporated under theprovisions of this chapter and shall state:
(1) The name of the association, which shall contain the word"cooperative" and which shall not be the same as that of any other associationor corporation formed or doing business in this state or so similar in name asto be likely to be confused with it.
(2) The objects or purposes for which it is formed.
(3) The place where its principal office is to be located.
(4) The term for which it is to exist.
(5) Whether formed with or without capital stock, and ifformed with capital stock, the total amount of the authorized capital stock ofthe corporation, the number of shares into which the stock is divided and thepar value of each share, except in the case of a corporation having stock orany class of stock without par value, in which case the articles of associationregarding the stock, in lieu of the above, shall state the total number ofshares authorized and that they are without par value; the restrictions, ifany, imposed on the transfer of stock; and, if there be two (2) or more classesof stock, a description of the different classes and a statement of the termson which they are created.
(6) In addition to the above, the articles of incorporationof any association incorporated under this chapter may contain any provisionconsistent with law with respect to management, regulation, government,financing, indebtedness, membership, the establishment of voting districts andthe election of delegates for representative purposes, the issuance,retirement, and transfer of its stock, if formed with capital stock, or anyprovisions relative to the manner in which it operates or as to its members,officers, or directors and any other provisions relating to its affairs.
