§ 10-33-04 — Purposes

1. Unless otherwise limited in its articles, a corporation has a general purpose of
engaging in any lawful nonprofit activity.
2. A corporation may be incorporated under this chapter for any lawful nonprofit purpose,
unless another statute requires incorporation under a different law. A corporation of
this type engaging in conduct that is regulated by another statute is subject to the
limitations of the other statute, except it may not:
a. Be formed for a purpose involving pecuniary gain to its members, other than to
members that are nonprofit organizations, subdivisions, units, or agencies of the
United States, a state, or a local government; or
b. Pay dividends or other pecuniary remuneration, directly or indirectly, to its
members, excluding members that are nonprofit organizations or subdivisions,
units, or agencies of the United States, a state, or a local government.