Declaration of intent to incorporate, filing--Proposed articles of incorporation, execution.

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58-35-7. Declaration of intent to incorporate, filing--Proposed articles of incorporation, execution.

The individuals proposing to form a farm mutual insurer as referred to in §58-35-5 or 58-35-6 shall file with the director:

(1)A declaration of their intention to form such a corporation signed by at least one hundred incorporators if a proposed state mutual insurer, or by at least twenty-five incorporators if a proposed county mutual insurer; and

(2)The original and two copies with original signatures of the proposed articles of incorporation signed by three or more of the incorporators and notarized.

Source: SL 1966, ch 111, ch 17, §8 (1); SL 1993, ch 369, §1.


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