Articles of Incorporation: Contents

The articles of incorporation of any such association shall show that the signers thereof are engaged in the production of products, as defined in this Chapter, and that they propose to incorporate an association hereunder, and shall state:

(a)Name. The name of the association.

(b)Purposes. The purposes for which it is formed.

(c)Principal office. The municipality where the principal office for the transaction of business of the corporation is to be located.

(d)Directors. The number of directors thereof, which shall not be less than three (3), and the names and addresses of the persons who are to serve as first directors; if it be desired that the first directors shall serve for terms of different length, the term for which each person so named shall serve.

(e)Members: Voting Power and Rights. If organized without shares of stock, whether the voting power and the property rights and interest of each member are equal or unequal; and if unequal, the general rule or rules applicable to all members by which the voting power and the property rights and interests, respectively, of each member may be and are determined and fixed. COL070307 CH. 13 NONPROFIT COOPERATIVE ASSOCIATIONS

(f)Shares: Number and Value. If organized with shares of stock, the number of shares which may be issued and if the shares are to have a par value, the par value of each share, and the aggregate par value of all shares; if the shares are to be without par value it shall be so stated.

(g)Classified Shares: Description and Statement of Number, etc.: Common Stock. If the shares are to be classified, a description of the classes of shares and a statement of the number of shares of each kind or class and the nature and extent of the preferences, rights, privileges and restrictions granted to or imposed upon the holders of the respective classes of stock; and except as to the matters and things so stated no distinction shall exist between said classes of stock or the holders thereof. One class of stock shall always be known as common stock and voting power may be restricted to holders of common stock.