The articles of incorporation must set forth:
The articles of incorporation may set forth:
The names and addresses of the individuals who are to serve as the initial directors;
Provisions not inconsistent with law regarding:
The purpose or purposes for which the corporation is organized;
Managing the business and regulating the affairs of the corporation;
Defining, limiting and regulating the powers of the corporation, its board of directors and shareholders; and
A par value for authorized shares or classes of shares;
Any provision that under Section 79-4-1.01 et seq. is required or permitted to be set forth in the bylaws;
A provision eliminating or limiting the liability of a director to the corporation or its shareholders for money damages for any action taken, or any failure to take any action, as a director, except liability for:
The amount of a financial benefit received by a director to which he is not entitled;
An intentional infliction of harm on the corporation or the shareholders;
A violation of Section 79-4-8.33; or
An intentional violation of criminal law; and
Receipt of a financial benefit to which he is not entitled;
An intentional infliction of harm on the corporation or its shareholders;
A violation of Section 79-4-8.33; or
An intentional violation of criminal law.
The articles of incorporation need not set forth any of the corporate powers enumerated in Section 79-4-1.01 et seq.
For the purposes of this section, a "director" shall include any person vested with the discretion or powers of a director under Section 79-4-7.32.
Provisions of the articles of incorporation may be made dependent upon facts objectively ascertainable outside the articles of incorporation in accordance with Section 79-4-1.20(k).