(1) Any number of persons, not less than five, may associate to form a company for the purpose of constructing and operating a railroad.
(2) The certificate of incorporation, in addition to the matter otherwise required, shall specify as follows:
(a) The places from and to which it is intended to construct the proposed railway;
(b) The time of the commencement and the period of the continuance of such proposed corporation;
(c) The names and places of residence of the several persons forming the association for incorporation; and
(d) In what officers or persons the government of the proposed corporation and the management of its affairs shall be vested.
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