(a) The articles of incorporation of the corporation shall state:
(1) The names of the persons forming the corporation, together with the residence of each person forming the corporation, and a statement that each person is a qualified elector of the municipality or county;
(2) The name of the corporation, which shall be:
(A) "The Economic Development Corporation of [City], Arkansas";
(B) "The Economic Development Corporation of [Town], Arkansas";
(C) "The Economic Development Corporation of [County], Arkansas"; or
(D) Some other name of similar import; and
(3) Any other matters relating to the corporation required by the Arkansas Nonprofit Corporation Act of 1993, § 4-33-101 et seq., or that the incorporators may choose to insert, and which are not inconsistent with this chapter or with the laws of this state.
(1) The form and content of the articles of incorporation shall be submitted to the governing body for its approval.
(2) The governing body shall evidence approval by a resolution entered upon the minutes of the governing body.
Acts 2005, No. 1372, § 3.