Organization: Preparation and contents of articles of incorporation. Ten or more citizens of the United States, a majority of whom are citizens of this state, who desire to form a fraternal benefit society, may make, sign and acknowledge before some person competent to take acknowledgment of deeds, articles of incorporation, in which must be stated:
1. The proposed corporate name of the society, which must not so closely resemble the name of any society or insurer as to be misleading or confusing;
2. The purposes for which it is being formed, which must not include more liberal powers than are granted by this chapter;
3. The mode in which its corporate powers are to be exercised; and
4. The names and residences of the incorporators and the names, residences and official titles of all the officers, trustees, directors or other persons who are to have and exercise the general control of the management of the affairs and money of the society for the first year or until the ensuing election at which all officers must be elected by the supreme governing body, which election must be held not later than 1 year after the date of the issuance of the permanent certificate of authority.
Last modified: February 27, 2006