§ 8-1-13-4 — Articles of incorporation

Indiana § 8-1-13-4

• Jurisdiction: Indiana
• Art. 1: UTILITIES GENERALLY
• Ch. 13: Rural Electric Membership Corporation Act

Text

(a) The articles of incorporation shall be entitled
and endorsed either "Articles of Incorporation of _______ Rural
Electric Membership Corporation" or Articles of Incorporation of
_____________ Rural Electric Cooperative, Inc." (the blank space
being filled in with the distinguishing part of the name of the
corporation) and shall state the following:
(1) The name of the corporation, which name shall be such as to
distinguish it from any other corporation.
(2) A reasonable description of the territory in which its
operations are to be conducted, and which shall not include any
incorporated city or town having a population in excess of fifteen
hundred (1500) inhabitants at the time such articles are first
approved by the commission, or any territory, whether within or
without any incorporated city or town, already being served with
energy by any public or municipally owned utility.
(3) The location of its principal offices and the post office address
thereof.
(4) The maximum number of directors, not less than three (3).
(5) The names and post office addresses of the directors, not less
than three (3), who are to manage the affairs of the corporation for
the first year of its existence, or until their successors are chosen.
(6) The period, if any, limited for the duration of the corporation.
If the duration of the corporation is to be perpetual, this fact
should be stated.
(7) The terms and conditions upon which members of the
corporation shall be admitted.
(b) The articles of incorporation of a corporation may also contain
any provision not contrary to law which the incorporators may choose
to insert for the regulation of its business and for the conduct of the
affairs of the corporation; and any provisions creating, defining,
limiting, or regulating the powers of the corporation, its directors and
members.
Formerly: Acts 1935, c.175, s.4; Acts 1937, c.258, s.3; Acts
1939, c.105, s.2; Acts 1953, c.48, s.1. As amended by P.L.23-1988,
SEC.46.