HARRY HUGHES, Governor                                      1071

(3)  A PRECISE AND ACCURATE PRECISE AND ACCURATE
STATEMENT OF THE PURPOSE OR PURPOSES FOR WHICH THE ASSOCIATION IS
ORGANIZED, AS WELL AS A STATEMENT THAT IT IS ORGANIZED IN
COMPLIANCE WITH STATE LAW;

(4)  THE TERM FOR WHICH THE ASSOCIATION IS TO EXIST,
WHICH MAY BE PERPETUAL;

(5)  THE NAME, OCCUPATION, CITIZENSHIP, PLACE OF
RESIDENCE, AND POST OFFICE ADDRESS OF EACH INCORPORATOR;

(6)  THE NAME, OCCUPATION, CITIZENSHIP, PLACE OF
RESIDENCE, AND POST OFFICE ADDRESS OF EACH OF THE FIRST
DIRECTORS; AND

(7)  IF THE ASSOCIATION IS A CAPITAL STOCK
ASSOCIATION, PROVISIONS FOR THE ISSUANCE OF CAPITAL STOCK.

(B) PROPOSED BYLAWS.

THE PROPOSED BYLAWS OF THE ASSOCIATION SHALL PROVIDE FOR:

(1)  (I) THE DATES OF REGULAR MEETINGS OF
SHAREHOLDERS, IF ANY;

(II)  THE NOTICE OF THE REGULAR MEETINGS TO BE
GIVEN;

(III)  THE QUALIFICATION OF VOTERS AND THE
MANNER OF VOTING;

(IV)  THE MANNER OF CALLING SPECIAL MEETINGS;

(V)  THE NUMBER OF MEMBERS THAT CONSTITUTE A
QUORUM; AND

(VI)  THE DATE OF THE ANNUAL MEETING;

(2)  (I) THE NUMBER OF DIRECTORS AND THEIR
QUALIFICATIONS, OTHER THAN THOSE SPECIFIED IN THIS TITLE;

(II)  THE TERMS OF OFFICE OF THE DIRECTORS WHICH
MAY NOT BE LESS THAN 1 YEAR OR MORE THAN 3 YEARS;

(III)  IF THE TERMS OF OFFICE ARE MORE THAN 1
YEAR, THE METHOD OF DIVISION INTO CLASSES FOR THE PURPOSE OF
ELECTING, AS NEARLY AS MAY BE, AN EQUAL NUMBER OF DIRECTORS EACH
YEAR; AND

(IV)  THE REMOVAL OR SUSPENSION OF DIRECTORS;

(3)  (I) THE MEETINGS OF THE BOARD OF DIRECTORS; AND

(II) THE POWERS AND DUTIES OF THE BOARD OF
DIRECTORS;