Ic&s 502 Nformation And Instructions Page 10
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16REVIEW PROCEDURES FOR C&S 502 - ARTICLES OF INCORPORATION
FOR DOMESTIC NONPROFIT CORPORATIONS
SPECIFIC DOCUMENT ITEMS
STATUTORY CITE
ADDITIONAL ARTICLES
The space may be used to continue previous Articles or to reflect
additional provisions permitted or required to be part of the articles of
incorporation. Examples of such provisions are:
1. Corporate Term, if other than perpetual.
NPA 202(i)
AG Opinion dated
If the term is reflected as a specific number of years, compute the
3-24-33 (our # 121)
term expiration date from the date of filing the articles or, if there is an
Special Opinion 170
effective date, from the effective date.
Special Opinion 291
2. Proposed compromise, arrangement, or reorganization between
NPA 204
corporation and creditors or shareholders
3. Limited Liability
NPA 209(c)(d) & (e)
541
a) Exemption from personal liability of volunteer directors volunteer
NPA 209(c)
officers. The provision may not provide for exemption from liability
beyond that provided for in the Act nor may it provide for limited
liability on a date earlier than the effective date of the document
which originally contained the provision.
The provision may not include a reference to the Uniform
Management of Institutional Funds Act. Provisions in the Nonprofit
Act do not affect, amend, expand or place limits on other statutes.
Unless the Management of Institutional Funds Act is amended to
provide for limitations or exemptions of liability of directors, the
reference to that Act is not acceptable in a provision providing for
limiting the liability of a volunteer director.
b) Corporation assumes liability for volunteer directors. This
NPA 209(d)
statement may include any date between 1-1-88 and the current
date.
c) Corporation assumes liability for volunteer directors, volunteer
NPA 209(e)
officers and other volunteers.
4. By-Laws
NPA 231
5. Powers
NPA 261
6. Dividends
NPA 301(3)
7. SHARES / SHAREHOLDERS
a) Dividends
NPA 301(3)
b) Transfer of shares
NPA 303(4)
c) Rules of qualification and government of shareholders
NPA 303(5)
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