35-18-203. Articles of incorporation. (1) The articles of incorporation of a cooperative must state in the caption that the articles of incorporation are executed pursuant to this chapter, must be signed by each of the incorporators, and must state:
     (a) the name of the cooperative;
     (b) the address of its principal office;
     (c) the names and addresses of the incorporators;
     (d) the names and addresses of the persons who constitute its first board of trustees; and
     (e) any provisions not inconsistent with this chapter considered necessary or advisable for the conduct of its business and affairs.
     (2) In addition to provisions required in subsection (1), the articles of incorporation may also contain:
     (a) provisions not inconsistent with law regarding liability as provided in 35-1-216; and
     (b) provisions for classification of members in a cooperative.
     (3) A cooperative's articles of incorporation must be submitted to the secretary of state for filing as provided in this chapter.
     (4) It is not necessary to include in the articles of incorporation of a cooperative the purpose for which it is organized or any of the corporate powers vested in a cooperative under this chapter.

     History: En. Sec. 6, Ch. 172, L. 1939; R.C.M. 1947, 14-506; amd. Sec. 40, Ch. 174, L. 1983; amd. Sec. 6, Ch. 559, L. 1987; amd. Sec. 211, Ch. 368, L. 1991; amd. Sec. 4, Ch. 406, L. 2001.