Articles of incorporation may contain the following:

1. (1) The purpose or purposes for which the corporation is organized, which may be either alone or in combination with other purposes.
2. (2) The names and addresses of the individuals who are to serve as the initial directors.

3. (3) Provisions not inconsistent with any law regarding the following:

   1. (A) Management and regulation of the affairs of the corporation.
   2. (B) Defining, limiting, and regulating the powers of the corporation, the corporation's board of directors, and members (or any class of members).
   3. (C) The characteristics, qualifications, rights, limitations, and obligations attaching to a class of members.
4. (4) Any other provision that is required or allowed to be set forth in the bylaws.

As added by P.L.179-1991, SEC.1.