§ 26–1304. Organization certificate; execution; contents.

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:

(1) The name of the corporation;

(2) The purposes for which it is formed;

(3) 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;

(4) 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

(5) The amount of its capital stock and its subdivision into shares.