§ 15-17-04 — Articles of incorporation of institutional holding associations

The articles of incorporation of an institutional holding association must contain the
following:
1. The name of the association.
2. The place, which must be within this state, where its business will be transacted, and
the name of the educational institution in connection with which it will operate.
3. The term for which it is to exist.
4. A provision that it is formed under this chapter to carry out the objects and purposes
thereof.
5. The number of its members and the condition of membership and succession in the
association.
6. The number of its trustees, who may or may not be members, and the names and
residences of the persons who shall serve as trustees until their successors are
elected and qualified.