(a) The articles of association shall set forth that the subscribers thereto associate themselves with the intention of forming a corporation, and shall specifically state:
(1) The name by which the corporation shall be known;
(2) The purpose for which it is formed;
(3) The city or town where its place of business will be located;
(4) If the corporation is to be authorized to issue capital stock, the amount of its capital stock and the number of shares into which it is to be divided. If the corporation is not to have authority to issue capital stock, that fact shall be stated in the certificate of incorporation, together with the conditions of membership in the corporation, or the certificate may provide that the conditions of membership shall be stated in the bylaws;
(5) The number of its directors, which shall not be less than 5;
(6) Whether or not the corporation is to have perpetual existence, and, if not, the time when its existence is to cease;
(7) Whether the private property of the stockholders shall be subject to the payment of corporate debts, and if so, to what extent.
(b) The articles of association may also contain other provisions defining, limiting and regulating the powers of the corporation, the powers and duties of the directors and the powers of the stockholders or members, if such provisions are consonant with the object, purpose and provisions of this chapter and are not in conflict with this Code or any other general statute of this State relating to savings banks.
(c) Each incorporator shall subscribe to the articles the incorporator's name, residence, post-office address and the number of shares of stock which the incorporator agrees to take, and shall acknowledge the same to be the incorporator's act and deed before some officer authorized by the laws of this State to take acknowledgments of deeds.
(d) The articles of association may contain an article which provides that any article or provision thereof shall not be amended, modified, repealed or otherwise changed in any manner whatsoever. Such an article, when approved by the Commissioner under § 1628 of this title, shall be valid, binding and enforceable against the corporation and its shareholders or members notwithstanding any other provision of this title.
Structure Delaware Code
Chapter 16. CORPORATION LAW FOR STATE SAVINGS BANKS
Subchapter II. Formation of a Savings Bank
§ 1621. Incorporators; number and qualifications.
§ 1622. Articles of association; contents and execution.
§ 1623. Notice of intention to incorporate; publication.
§ 1624. Application for a certificate of public convenience and advantage.
§ 1625. Determination of public convenience.
§ 1626. Organization meeting of incorporators; notice; proceedings.
§ 1627. Articles of organization.
§ 1628. Approval of articles of organization.
§ 1629. Filing of articles of organization.
§ 1630. Certificate of incorporation; issuance, form, recording and evidence.
§ 1631. Commencement of corporate existence.
§ 1632. Commencement of business; certificate authorizing.
§ 1633. Revocation of charter for failure to commence business within reasonable time.