The persons referred to in § 26-1301 shall, under their hands and seals, execute before some officer in said District competent to take the acknowledgment of deeds, an organization certificate, which shall specifically state: The name of the corporation; The purposes for which it is formed; The term for which it is to exist, which shall not exceed the term of 50 years, and be subject to alteration, amendment, or repeal by Congress at any time; The number of its directors and the names and residences of the officers who for the first year are to manage the affairs of the company; and The amount of its capital stock and its subdivision into shares.
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