South Dakota Codified Laws 58-35-8. Articles of incorporation–Contents
The articles of incorporation required by § 58-35-7 shall state:
(1) The name of the corporation, which shall include the words “farm mutual” and if a county mutual insurer the name of the county of its principal place of business;
Terms Used In South Dakota Codified Laws 58-35-8
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- State: when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada. See South Dakota Codified Laws 58-1-2
(2) If a county mutual insurer, the name of the counties in which the corporation intends to do business and the address of its principal business office;
(3) If a state mutual insurer, the location of its principal business office, which must be located in this state;
(4) The purposes for which the corporation is formed;
(5) If it will transact business on a cash premium plan or an assessment plan;
(6) The duration of its existence, which may be perpetual;
(7) The number of its directors, which shall be not less than five nor more than eleven; the names and addresses of the persons constituting the initial board of directors who shall serve until the first annual meeting of the members, and until their successors are elected and qualified; and
(8) The names, residences and addresses of the incorporators and the value of their property desired to be insured.
Source: SL 1966, ch 111, ch 17, § 8 (2).