Section 11-56-3 Application for authority to form corporation; adoption of resolution by governing body authorizing incorporation; procedure for incorporation generally.
Section 11-56-3
Application for authority to form corporation; adoption of resolution by governing body authorizing incorporation; procedure for incorporation generally.
Whenever any number of natural persons, not less than three, shall file with the governing body an application in writing for authority to incorporate a corporation under the provisions of this chapter, if it shall be made to appear to the governing body that each of the said persons is a duly qualified elector of and property owner in the municipality, and, if the governing body shall duly adopt a resolution wherein it shall be declared that it will be wise, expedient, and necessary that such a corporation be formed and that the persons filing such application shall be authorized to proceed to form such corporation, then the said persons shall become the incorporators of and shall proceed to incorporate the corporation in the manner provided in this chapter.
No corporation shall be formed under this chapter unless the application provided for in this section shall be made and unless the resolution provided for in this section shall be adopted.
(Acts 1955, No. 493, p. 1116, §3.)