§ 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.