Persons proposing to form a mutual insurance company under this chapter shall subscribe and acknowledge articles of incorporation specifying: 1. The name of the company and the purpose for which it is to be formed. 2. The location of its principal or home office, which must be within this state. 3. The names and addresses of those composing the board of directors in which the management is vested until the first meeting of the members. 4. The names and places of residence of the incorporators. 5. The term of existence of the company, which may be perpetual.
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