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Sample Lake Property Owners Association
The undersigned desiring to form a non-profit corporation under and pursuant to the provisions in Chapter 550, Laws of Minnesota 1951, as now contained in Chapter 317A of Minnesota Statutes Annotated, and acts amendatory thereto, do hereby adopt the following Articles of Incorporation:
The name of the corporation shall be Sample Lake Property Owners Association
The Duration of this corporation shall be perpetual
The object and purpose of this corporation shall be to promote the community welfare and civic development of all areas of Otter Tail County bordering on or approximate to the shoreline of Sample Lake and such other land areas adjacent to the other member lakes of this association and that may be further removed therefrom as its members shall from time to time determine, and to assist the property owners within said areas in the perseveration of their civic areas and those of Sample Lake itself in all issues affecting said areas, including but not limited to government, environment, cultural, social and legal. These activities may include the planting and promulgation of fish therein and the protection and preservation of the ecology and aquatic and other wildlife in the waters and on the land areas adjacent to Sample Lake as may be determined by the members, to promote and develop the horticultural development of the areas described, to promote the cultural and social lives of the inhabitants of said area and to provide a vehicle by which legal or political problems common to the area and the inhabitants thereof, including tax problems, may be resolved in any manner provided by law for the common welfare of the members of this corporation; and so that this corporation may acquire by purchase or other means such real of personal property as may be necessary in carry out its stated objectives and to mortgage or sell or exchange the same and to do any and all other acts permitted by the laws of the State of Minnesota in furtherance of its stated purposes.
IV. NATURE OF CORPORATION.
This corporation shall be a non-profit corporation and shall not afford pecuniary gain, incidentally or otherwise, to any of its members and the individual members of the corporation shall have no personal liability for any corporation obligation.
V. CAPITAL STOCK.
This corporation shall have no authority to issue capital stock and shall have no capital stock.
Any person authorized by the board of directors shall be eligible for membership in this corporation upon such terms and conditions as may be stated in the corporation’s bylaws. Each member shall have one vote at any regular or special meeting of the members of this corporation.
VII. REGISTERED OFFICE.
The registered office and principal place of business of the corporation shall be:
VIII. DIRECTOR AND INCORPORATOR(S).
Upon the expiration of the term of the first board of directors, the board of directors shall consist of the number of directors as shall be specified in the bylaws of the corporation and for such terms as shall also be therein specified.
IX. CORPORATE MEETINGS.
Regular or special meetings of the members of the corporation shall be held at such time and place and upon such notice as shall be determined by the bylaws of the corporation provided, however, that such bylaws as concern the time, place and notice of meetings and a quorum of the members necessary for such meeting shall conform to the minimum requirements established by the statutes under which this corporation is established.
X. DIRECTORS MEETINGS.
Regular or special meetings of the board of directors of this corporation shall be held at such place and upon such notice as shall be provided in the bylaws of this corporation.
XI. CORPORATE SEAL.
This corporation shall have no corporate seal.
All powers of this corporation not specifically stated in these Articles of Incorporation or any bylaws which may be adopted by this corporation shall be those authorized and granted to the corporation by the statutes under which the same is incorporated.
This corporation shall adopt such bylaws as it may determine, but no bylaws shall conflict with any Articles herein contained or with the statutes under which the same is incorporated.
These Articles may be amended at any regular or special meeting of the membership of which notice has been duly given when approved by a majority of the membership present and having a quorum present.