58-35-77Articles of division of farm mutual--Articles of incorporation--Filing--Application of chapter provisions.

The articles of division of a farm mutual, if approved, shall set forth the approved plan and such other information as required by § 58-35-63 and shall be filed and approved as provided for by § 58-35-64. Each part of the plan that contains the articles of a new farm mutual shall be separately filed and recorded as articles of incorporation for such new farm mutual. Any new farm mutual formed pursuant to §§ 58-35-75 to 58-35-77, inclusive, is subject to the provisions of this chapter in the same manner as any other farm mutual.

Source: SL 2005, ch 277, § 3.