47-22-6. Contents of articles of incorporation--Necessary recitals.

239 words·~1 min read·/sd/title-47/chapter-47-22/47-22-6

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The articles of incorporation shall set forth:

(1)The name of the corporation;

(2)The period of duration, which may be perpetual;

(3)The purpose or purposes for which the corporation is organized;

(4)If the corporation is to have no members, a statement to that effect;

(5)If the corporation is to have one or more classes of members, any provision which the incorporators elect to set forth in the articles of incorporation designating the class or classes of members and stating the qualifications and rights of the members of each class;

(6)If the directors or any of them are not to be elected or appointed by one or more classes of members, a statement of the manner in which such directors shall be elected or appointed;

(7)Any provisions, not inconsistent with law, which the incorporators elect to set forth in the articles of incorporation for the regulation of the internal affairs of the corporation, including any provision for distribution of assets on dissolution or final liquidation;

(8)The information required by § 59-11-6 ;

(9)The number of directors constituting the initial board of directors, and the names and addresses of the persons who are to serve as the initial directors; and

(10)The name and address of each incorporator.

It is not necessary to set forth in the articles of incorporation any of the corporate powers enumerated in chapters 47-22 to 47-28 , inclusive.