Director of Revenue and Taxation to Issue Certificates

The Director of Revenue and Taxation on filing of the articles of incorporation provided by this Part to be filed, shall issue to the incorporators a certificate, under the seal of his office, setting forth that such articles of incorporation have been duly filed in his office in accordance with law; and thereupon the persons signing the articles of incorporation and their associates and successors shall constitute a body politic and corporate, under the name stated in the certificate, for the term specified in the articles of incorporation, not exceeding fifty

(50)years, unless sooner legally dissolved or unless otherwise provided in this Part.