371.050. Certificate of organization to be filed — contents.

196 words·~1 min read·/mo/chapter-371/371-050

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371.050. Certificate of organization to be filed — contents. — 1. When the applicants have completed the organization of the proposed development finance corporation, they shall file with the director of finance a certificate of organization executed by its president and attested by its secretary and with its seal affixed thereto, certifying

(1)The names and addresses of all of its subscribers of stock, the number of shares subscribed and the number of shares fully paid for by each;

(2)The total number of shares subscribed but not fully paid for;

(3)The total number of shares paid in full;

(4)The name and address of any depositary holding on deposit any funds of the development finance corporation;

(5)The names and addresses of the officers, directors and members of the executive committee, if any, of the development finance corporation.

2. The certificate of organization of the applicant shall be accompanied by

(1)The certificate of any named depositary certifying the amount of funds on deposit to the credit of the development finance corporation;

(2)Any bylaws or resolutions which have been adopted by the directors of the corporation.

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(L. 1961 p. 157 § 5)