15-17-04. Articles of incorporation of institutional holding associations

15-17-04. Articles of incorporation of institutional holding associations The articles of incorporation of an institutional holding association must contain the following: 1. The name of the association. 2. The place, which must be within this state, where its business will be transacted, and the name of the educational institution in connection with which it will operate. 3. The term for which it is to exist. 4. A provision that it is formed under this chapter to carry out the objects and purposes thereof. 5. The number of its members and the condition of membership and succession in the association. 6. The number of its trustees, who may or may not be members, and the names and residences of the persons who shall serve as trustees until their successors are elected and qualified.