§ 301. Organizers

§ 301. Organizers A mutual benefit enterprise shall be organized by one or more organizers. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)

§ 302. Formation of mutual benefit enterprise; articles of organization

§ 302. Formation of mutual benefit enterprise; articles of organization (a) To form a mutual benefit enterprise, an organizer of the enterprise shall deliver articles of organization to the Secretary of State for filing. The articles shall state: (1) the name of the enterprise; (2) the purposes for which the enterprise is formed; (3) the […]

§ 303. Organization of mutual benefit enterprise

§ 303. Organization of mutual benefit enterprise (a) After a mutual benefit enterprise is formed: (1) if initial directors are named in the articles of organization, the initial directors shall hold an organizational meeting to adopt initial bylaws and carry on any other business necessary or proper to complete the organization of the enterprise; or […]

§ 304. Bylaws

§ 304. Bylaws (a) Bylaws shall be in a record and, if not stated in the articles of organization, shall include: (1) a statement of the capital structure of the mutual benefit enterprise, including: (A) the classes or other types of members’ interests and relative rights, preferences, and restrictions granted to or imposed upon each […]