Every such cooperative company shall provide in its articles of incorporation:
(1) That the word cooperative shall be included in its corporate name and that it
proposes to organize as a cooperative corporation;
(2) That dividends on the capital stock shall be fixed but shall not exceed eight
percent per annum of the amount actually paid thereon;
(3) That the net earnings or savings of the company remaining after making the distribution
provided in subdivision (2) of this section, if any, shall be distributed on the basis
of or in proportion to the amount or value of property bought from or sold to members,
or members and other patrons, or of labor performed or other services rendered to
the corporation. This subdivision shall not be so interpreted as to prevent a cooperative company
from declaring patronage dividends at different rates upon different classes or kinds
or varieties of goods handled. This subdivision and subdivision (2) of this section shall not be so interpreted
as to prevent a company from appropriating funds for the promotion of cooperation
and improvement in agriculture;
(4) That the articles of incorporation or the bylaws of the company shall give a detailed
statement of the method followed in distributing earnings or savings;
(5) The registered office and street address of such registered office;
(6) The current registered agent and the name and street address of such registered
agent. A post office box number may be provided in addition to the street address; and
(7) The name and street address of each incorporator.
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