56-231.41 - Articles of incorporation.
§ 56-231.41. Articles of incorporation.
A. The articles of incorporation shall be entitled "Articles ofIncorporation of . . . . . . . . . Cooperative" (the blank space beingfilled in with the distinguishing part of the name of the cooperative) andshall state:
1. The name of the cooperative, which name need not contain the word"corporation" or "incorporated," but shall be such as to distinguish itfrom any other cooperative;
2. The location and post office address of its principal office and itsregistered agent;
3. The number of directors;
4. The names and post office addresses of the directors who are to manage theaffairs of the cooperative for the first year of its existence, or untiltheir successors are chosen;
5. The duration of the cooperative if its duration is to be limited; and
6. In the case of a cooperative incorporating with capital stock, a statementof the maximum and minimum amount of the capital stock of the cooperative,and its division into shares.
B. The articles of incorporation may also contain any provision notinconsistent with law or the provisions of Title 13.1, which theincorporators may choose to insert for the regulation of the business and theconduct of the affairs of the cooperative; and any provision as to the planof financial organization, or relating to the internal regulation or thegovernment of the cooperative, its directors and members; provided, however,that subsections D through G of § 13.1-620 and subdivision 1 of § 13.1-825shall not apply to any affiliate or subsidiary of a cooperative.
(1999, c. 874.)