67A.02 CERTIFICATE OF INCORPORATION.
Subdivision 1. Contents.
The persons who desire to form a township mutual fire insurance
company, as defined in section
, shall make, sign, and acknowledge before some officer
competent to take acknowledgments of deeds a certificate of incorporation which shall specify:
(1) the name;
(2) the location of the principal office;
(3) the general nature of the business;
(4) the territory in which it desires to transact business;
(5) who may become members;
(6) source from which the corporate funds shall be derived;
(7) the class of property it desires to insure;
(8) in what board its management shall be vested;
(9) the date of its annual meeting; and
(10) the corporate existence.
It may contain any other lawful provision defining and regulating the powers or business of
the corporation, its officers, directors, and members.
Subd. 2. Approval of commissioner required; filing.
The certificate of every such
corporation shall be presented to the commissioner for approval and, on approving the same, the
commissioner shall endorse thereon the approval and the certificate shall then be filed in the
commissioner's office and recorded in a book kept therein for that purpose. Upon the approval of
the certificate and the filing of the same with the commissioner, the corporate organization of
the incorporation shall be complete.
History: 1967 c 395 art 8 s 2; 1986 c 444