The articles of association of a joint-stock association may:

1. 1. Provide that the death of a stockholder thereof, or the transfer of his shares of stock therein, shall not work a dissolution of the association;
2. 2. Prescribe the number of its directors, not less than three, to have the sole management of its affairs;
3. 3. Contain any other provision for the management of its affairs not inconsistent with law.