70-706.

Articles of incorporation; contents.

The articles of incorporation shall state (1) the name of the corporation, which name shall include the words electric cooperative and the word corporation, incorporated, inc., association or company, and the name shall be such as to not be deceptively similar to any other corporation organized and existing under the laws of this state; (2) the purpose for which the corporation is formed; (3) the names and addresses of the incorporators who shall serve as directors and manage the affairs of the corporation until its first annual meeting of members, or until their successors are elected and qualify; (4) the number of directors, not less than five, to be elected at the annual meetings of members; (5) the address of its principal office; (6) the period of duration of the corporation, which may be perpetual; (7) the terms and conditions upon which persons shall be admitted to membership and retain membership in the corporation, but, if expressly so stated, the determination of such matter may be reserved to the directors by the bylaws; and (8) any provisions, not inconsistent with law, which the incorporators may choose to insert for the regulation of the business and the conduct of the affairs of the corporation. It shall not be necessary to set forth in the articles of incorporation any of the corporate powers enumerated in section 70-704.