§ 3. Contents of articles of association. The articles of association of a joint-stock association may:
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. Prescribe the number of its directors, not less than three, to have the sole management of its affairs;
3. Contain any other provision for the management of its affairs not inconsistent with law.
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