§ 3. Contents of articles of association. The articles of association\nof a joint-stock association may:\n 1. Provide that the death of a stockholder thereof, or the transfer\nof his shares of stock therein, shall not work a dissolution of the\nassociation;\n 2. Prescribe the number of its directors, not less than three, to\nhave the sole management of its affairs;\n 3. Contain any other provision for the management of its affairs not\ninconsistent with law.\n
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