(805 ILCS 35/11) (from Ch. 32, par. 1011)
Sec. 11.
The articles of incorporation for a development credit corporation
organized under the provisions of this Act shall state:
(1) The name of the corporation, which name shall include the words
"Illinois Development Credit Corporation" but shall have in addition a
numerical or other designation so as to distinguish it from any development
credit corporation which may be organized subsequently and the name shall
be such as to distinguish it from any other corporation organized under the
laws of this State;
(2) The purpose for which the corporation is formed;
(3) The period of duration of the corporation, which may be perpetual or
limited;
(4) The address of its principal office and the name of its agent on
whom process may be served;
(5) The total number of shares of stock which the corporation is
authorized to issue, the number of shares of each class, the par value of
such shares, or a statement that the shares are of no par value;
(6) The number of directors, not less than 18, to be elected at the
annual meeting;
(7) The names and addresses of the incorporators, not less than 3, who
will manage the affairs of the corporation until the first meeting of
stockholders and members;
(8) Any provisions, not inconsistent with law, which the incorporators
may choose to insert for the regulation of the business and the conduct of
the affairs of the corporation.
It is not necessary to set out in the articles of incorporation any of
the corporate powers enumerated in this Act.
(Source: Laws 1965, p. 577.)
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