Section 15-4-501 - Purpose - Incorporators

In order to encourage and promote the economic, agricultural, and industrial development of any city, town, or county in this state, not fewer than fifteen (15) natural persons of the age of twenty-one (21) or more who are residents of the city, town, or county may act as incorporators of a corporation to be organized under this act by executing articles of incorporation as provided in this act.Acts 1955, No. 404, § 13; A.S.A. 1947, § 9-516; Acts 2001, No. 620, § 1.