56-488 - Certificate of incorporation.
§ 56-488. Certificate of incorporation.
The certificate of incorporation shall be entitled and endorsed "Certificateof Incorporation of the . . . . . . . . Telephone Co-operative" (the blankspace being filled in with the distinguishing part of the name of thecooperative) and shall state:
(1) The name of the cooperative, which name need not contain the word"corporation" or "incorporated" but shall be such as to distinguish itfrom any other cooperative.
(2) A reasonable designation of the territory in which its operations areprincipally to be conducted.
(3) The location of its principal office and post-office address thereof.
(4) The maximum number of directors, not less than five.
(5) The names and post-office addresses of the officers and directors who areto manage the affairs of the cooperative for the first year of its existence,or until their successors are chosen.
(6) The period, if any, limited for the duration of the cooperative.
(7) The terms and conditions upon which persons shall be admitted tomembership in the cooperative, and in the case of a cooperative incorporatingwith capital stock a statement of the maximum and minimum amount of thecapital stock of the cooperative, and its division into shares.
The certificate of incorporation may also contain any provision notinconsistent with Title 13.1 which the incorporators may choose to insert forthe regulation of the business and the conduct of the affairs of thecooperative; and any provision as to the plan of financial organization, orrelating to the internal regulation or government of the cooperative, itsdirectors and members.
(1950, p. 589; 1956, c. 434.)