§ 10-15-05 — Articles - Provisions

The articles of association shall set forth:
1. The name of the cooperative.
2. The period of existence, unless perpetual. Cooperatives now organized under the
provisions of chapter 4-07 or 10-15 are granted perpetual existence irrespective of the
period of existence set forth in articles of incorporation. Any such cooperative may
nevertheless amend its articles to provide for a limited period of existence.
3. The purposes for which organized. It is sufficient to state that the cooperative may
engage in any activity within the purposes for which cooperatives may be organized,
and all such activities shall then be deemed within its purposes, subject to express
limitations.
4. Whether the cooperative is organized with or without capital stock.
5. The designation of classes of members, if more than one.
6. The number and par value of shares of each authorized class of stock. If more than
one class is authorized, the designation, preferences, limitations, and relative rights of
each class shall also be set forth.
7. Which classes of stock are membership stock.

8. As to each class of stock, the rate of dividend, or that the rate of dividend may be fixed
by the board, or that no dividend will be paid.
9. Any reservation of a right to acquire or recall any stock.
10. The basis of distribution of assets in the event of liquidation.
11. The complete address where the cooperative's principal office is to be located.
12. If the address of the principal office is not located in North Dakota, the name and
complete address in this state of the cooperative's registered agent.
13. The name and address of each incorporator.
14. The names and addresses of at least five incorporators who will act as the temporary
board.
15. The effective date of the cooperative if a later date than that on which the certificate of
association is issued by the secretary of state. A later effective date may not be later
than ninety days after the date on which the certificate of association is issued.