A. The articles of incorporation of a cooperative shall recite in the caption that they are executed pursuant to the Rural Electric Cooperative Act, shall be signed and acknowledged by each of the incorporators and shall state:
(1) the name of the cooperative;
(2) the address of its principal office;
(3) the names and addresses of the incorporators;
(4) the names and addresses of the persons who constitute its first board of trustees; and
(5) any provisions not inconsistent with the Rural Electric Cooperative Act deemed necessary or advisable for the conduct of its business and affairs.
B. The articles of incorporation shall be submitted to the secretary of state for filing as provided in the Rural Electric Cooperative Act.
C. It shall not be necessary to set forth 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 the Rural Electric Cooperative Act.
History: Laws 1939, ch. 47, § 6; 1941 Comp., § 48-406; 1953 Comp., § 45-4-6; 2013, ch. 75, § 26.
ANNOTATIONSThe 2013 amendment, effective July 1, 2013, required that articles of incorporation of cooperatives be filed with the secretary of state; and in Subsection B, after "submitted to the", deleted "state corporation commission" and added "secretary of state".
Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations § 1.
43 C.J.S. Industrial Cooperative Societies § 3.