(A) The articles of incorporation of an association shall set forth all of the following:
(1) The name of the association;
(2) The association's purposes, as permitted by this chapter. It is sufficient to state in the articles that the association may engage in any activity within the purposes for which associations may be organized under this chapter.
(3) The county and municipal corporation or township where the association's principal place of business will be located which need not be within this state;
(4) The names and addresses of the incorporators;
(5) The number of its directors or a statement that the number of directors shall be as specified in the bylaws;
(6) The names and addresses of those who are to serve as directors until the first meeting of members or until the election and qualification of their successors;
(7) Whether the association is organized with or without capital stock.
(a) If the association is organized without capital stock, the articles shall set forth the general rules by which the property rights and interests of each member are to be determined.
(b) If the association is organized with capital stock, the total amount of the stock, the number and par value of the shares, and dividend rights, if any. If there is more than one class of stock, the articles shall set forth a statement of the number of shares in each class and a statement of the designations, preferences, rights, and limitations of the shares in each class.
(B) The articles may include additional provisions, consistent with law, including provisions that are required or permitted to be set forth in the bylaws.
(C) The articles shall be signed by the incorporators and filed with the secretary of state in accordance with section 1729.12 of the Revised Code. The articles shall be accompanied by the appointment of a statutory agent in accordance with division (B) of section 1729.06 of the Revised Code. The legal existence of an association begins upon the filing of the articles and, unless the articles provide otherwise, its period of existence is perpetual.
Effective Date: 08-05-1998; 09-03-2004
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