§ 17-10-105 — Certificate of incorporation; execution and contents

(a) The incorporators shall sign and acknowledge, in the
manner required for the signing and acknowledgment of deeds, a
certificate of incorporation showing the following facts:
(i) The name of the cooperative;
(ii) The purpose of the cooperative;
(iii)(A) If organized without capital stock, whether
the property rights of each member shall be equal or unequal;
and if unequal, the articles shall set forth the general rule or
rules applicable to all members by which the property rights and
interests, respectively, of each member shall be determined and
fixed; and the association shall have the power to admit new
members who shall be entitled to share in the property of the
association with the old members, in accordance with such
general rule or rules. This provision of the articles of
incorporation shall not be altered, amended, or repealed except
by the written consent or the affirmative vote of three-fourths
of the members;
(B) If organized with capital stock, the amount
of such stock, the number of shares into which the capital stock
is divided, and the par value of each share shall be given.
(iv) The period of duration for the cooperative, if
the duration is not to be perpetual;
(v) The number of directors, not less than five (5)
and the names of those who shall manage the concerns of the
corporation for the first corporate year;
(vi) The name of the town or post office and the
county where the principal office or place of business of the
corporation shall be located;
(vii) Any further provisions, not inconsistent with
law, which the incorporators may deem expedient to be embodied
in such certificate.