17-8-103. Contents, execution and filing of articles of incorporation; competency to transact business in corporate name.
(a) The said five (5) or more persons, being so convened and organized as a meeting, shall adopt articles of incorporation which shall fix:
(i) The name of the church, parish or society so incorporated, or the name of the church, parish or society in whose behalf or interest the corporation is formed;
(ii) The object and purpose of the incorporation;
(iii) The amount of debts which it shall be competent to contract, beyond which amount the corporation shall have no power to contract debts binding at law or equity upon it, its members or its property;
(iv) The manner in which it may contract and become bound for debts and may convey, encumber or change its property;
(v) The manner in which the succession of the members of said corporation shall be regulated and vacancies in their number filled;
(vi) The time of the commencement and the termination of the corporation;
(vii) By what officers its affairs shall be conducted.
(b) Which articles, being subscribed and acknowledged by the persons present at said meeting and filed in the office of the secretary of state, and recorded in the office of the county clerk of the county where such church, parish or society shall be located, whereupon such corporation shall be competent to transact all business in any by its corporate name.
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