16.03.010 Articles of Incorporation; Filing and Contents

In order to form a Non-Profit Corporation, one or more authorized persons must prepare, execute and file articles of incorporation consistent with Chapter 16.01, Subchapter 2, of this title. In addition to the information required by Section 16.01.090, all Articles of Incorporation for a Non- Profit Corporation shall also include the following:

(a) one of the following statements:

(1) For public benefit corporations, a statement that the corporation is organized exclusively for charitable, religious, educational, and scientific purposes, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under applicable law;

(2) This corporation is a mutual benefit corporation (such as a union or chamber of commerce);

(3) This corporation is a religious corporation;

(4) A statement as to whether or not the corporation will have members;

(5) Provisions not inconsistent with law regarding the distribution of assets on dissolution; and

(b) A statement to the effect that no part of the net earnings of the Non-Profit Corporation shall inure to the benefit of, or be distributable to its members, trustees, officers, or other private persons, except that the corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes set forth its articles. The Non-Profit Corporation shall not, except to an unsubstantial degree, engage in any activities or exercise any powers that are not in furtherance of the purposes of the corporation.