20-1084. Articles of incorporation
A. Five or more individuals aged eighteen years or more may incorporate a domestic life and disability reinsurer. Not less than two-thirds of the incorporators shall be citizens of the United States residing in this state.
B. In addition to the requirements of title 10, chapter 2, article 1, the articles of incorporation shall state:
1. The limitation upon the powers of the corporation consistent with this article.
2. The number of directors, not less than five nor more than fifteen, who shall conduct the affairs of the corporation, and the names and addresses of the corporation's first directors and officers for stated terms of office of not less than two months or more than one year.
3. The time of the annual meeting of shareholders.
4. The city or town in this state in which the principal place of business is to be located, and the counties, states and countries in which business may be transacted.
5. The limitations, if any, on the corporation's indebtedness.
6. The extent, if any, to which stock of the corporation shall be liable to assessment.
Section: Previous 20-1075 20-1077 20-1078 20-1079 20-1081 20-1082 20-1083 20-1084 20-1085 20-1086 20-1087 20-1088 20-1089 20-1090 20-1091 NextLast modified: October 13, 2016