3872

(a) The certificate of incorporation of the special employee-owned corporation shall comply with all the provisions of § 3502(a) of this title and shall also:\n(1) Include at the end of its name the acronym 'S.E.O.C.', which shall be part of its name.\n(2) The manner that the minimum amount of corporate capital of one thousand dollars ($1,000) shall be expressly stated, which can be for the acquisition of membership certificates or to acquire corporate stock.\n(3) When the corporation thus organized is a subsidiary of another special employee-owned corporation, a nonprofit corporation or a profitable corporation subject to the provisions of § 3879 of this title, it shall also state:\n(A) That the corporation is a subsidiary.\n(B) The name of the parent corporation.\n(C) The number of directors and officers that can be appointed by the parent corporation pursuant to what is provided in § 3879 of this title.\n(D) The number of votes that the parent corporation is authorized to cast at the assembly of members of the subsidiary, under the limitations established in §§ 3873 and 3879 of this title.\n(E) How the parent corporation shall participate in the profits or losses of the

st at the assembly of members of the subsidiary, under the limitations established in §§ 3873 and 3879 of this title.\n(E) How the parent corporation shall participate in the profits or losses of the subsidiary and in the distribution of the subsidiary’s internal capital accounts in case the latter is dissolved.\n(4) When the corporation that is thus organized is authorized by this chapter to have special members, the number of directors that shall be elected by and in representation of the special members, and the number of officers that these directors may appoint, subject to what is established in § 3876 of this title, shall be stated.\n(b) The certificate of incorporation may also contain any of the details stated in§ 3502(b), § 3873(a), § 3875, subsections (b) and (d) of § 3877, § 3878(a), and § 3879(b), all of this title.\nHistory —Dec. 16, 2009, No. 164, § 16.02.