Insurance

OPINION 49-90 December 7, 1949 (OPINION) INSURANCE RE: Articles of Incorporation The Secretary of State has transmitted the attached Articles of Incorporation of the American Christian Life Insurance Company of Fargo for our examination and approval. They have also asked us to forward them to you for your approval after we have made our examination. I find on examining the attached Articles of Incorporation that they are conformable to chapter 26-08 of the Revised Code of 1943 and not consistent with the constitution and laws of the State of North Dakota, with the exception of article V of the Articles of Incorporation. This article does not, in my opinion, set forth the number of directors of the corporation as required by section 10-0202 of the 1943 Revised Code. The provision, "The number of directors of this corporation shall be not less than seven nor more than fifteen.", is too vague and makes it impossible to determine the exact number of directors. Therefore, I transmit the articles to you with this exception noted for your examination and to ascertain whether the company in all respects has complied with the requirements of the law in accordance with the nature of the business to be transacted by it. WALLACE E. WARNER Attorney General