5 (1) Five or more persons, being, (a)  corporations; or (b)  natural persons who are of the age of eighteen years or more, and who intend to be members of the co-operative, may incorporate a co-operative with or without share capital by signing and delivering to the Minister in duplicate articles of incorporation and such other information as may be prescribed.  R.S.O. 1990, c. C.35, s. 5 (1); 1994, c. 17, s. 3 (1). Articles for worker co-operatives (1.1) Three or more natural persons who are of the age of eighteen years or more and who intend to be members of a worker co-operative may incorporate such a co-operative with or without share capital by signing and delivering articles of incorporation to the Minister in duplicate.  1992, c. 19, s. 2 (1). Contents of articles (2) Subject to subsection (3), articles of incorporation shall set out the following particulars: 1.  The name of the co-operative to be incorporated. 2.  All restrictions on the business that the co-operative may carry on or on the powers that the co-operative may exercise. 3.  The place in Ontario where the head office of the co-operative is to be located, giving the municipality and the upper-tier municipality or, where the head office is to be located in territory without municipal organization, the geographic township and district, and the address giving the street and number, if any. 4.  The number of directors or the minimum and maximum numbers of directors of the co-operative and the names in full and the residence addresses, giving the street and number, if any, of each person who is to be a first director of the co-operative. 5.  The name in full, and the residence address, giving the street and number, if any, of each of the incorporators.  R.S.O. 1990, c. C.35, s. 5 (2); 1992, c. 19, s. 2 (2); 1994, c. 17, s. 3 (2); 2002, c. 17, Sched. F, Table. Limit on non-member business in articles (2.1) For greater certainty, the articles of incorporation are not required to set out the percentage of business that a co-operative is authorized to conduct with non-members, except if necessary for the purposes of subsection 144 (1). 2019, c. 15, Sched. 8, s. 2. Idem (3) In addition to the particulars required to be set out in subsection (2), articles of incorporation shall state, (a)  where there is to be share capital, (i)  the authorized capital, the classes of shares, if any, into which it is to be divided, the number of shares of each class and the par value of each share, (ii)  where there are to be preference shares, the designations, preferences, rights, conditions, restrictions, limitations or prohibitions attaching to them or each class of them, (iii)  the restrictions to be placed on the transfer of its shares or any class thereof, (iv)  the class and number of shares to be taken by each incorporator and the amount to be paid therefore, (v)  the classes of membership, if any, setting forth the designation of and the terms and conditions attaching to each class of membership, and (vi)  the authority of the directors to fix the number of shares in, and to determine the designations, preferences, rights, conditions, restrictions, limitations or prohibitions attaching to, a class of shares that may be issued in series; (b)  where there is to be no share capital, (i)  the amount of the membership fee, (ii)  the restrictions to be placed on the transfer of member loans, (iii)  the classes of membership, if any, setting forth the designation of and the terms and conditions attaching to each class of membership, and (iv)  the amount of a minimum member loan, if any, and any other matter required by this Act or the regulations to be set out in the articles.  R.S.O. 1990, c. C.35, s. 5 (3); 2001, c. 8, s. 7; 2004, c. 31, Sched. 8, s. 2. Non-profit housing co-operatives (3.1) In addition to the particulars required to be set out in subsections (2) and (3), the articles of a non-profit housing co-operative shall be deemed to provide that, (a)  the primary object of the co-operative is to provide housing to its members; (b)  the co-operative’s activities shall be carried on without the purpose of gain for its members; and (c)  on the dissolution of the co-operative and after the payment of its debts and liabilities, the remaining property of the co-operative be transferred to or distributed among one or more non-profit housing co-operatives or charitable organizations.  1992, c. 19, s. 2 (3). Articles: general (4) The articles may set out any provision that is authorized by this Act to be set out in the articles or that could be the subject of a by-law of the co-operative.  R.S.O. 1990, c. C.35, s. 5 (4). Consent of first director (5) Where the articles name as a first director a person who is not an incorporator, the articles shall have attached thereto his or her written and signed consent to act as a first director.  R.S.O. 1990, c. C.35, s. 5 (5). (6) Repealed:  1997, c. 19, s. 3 (1). Section Amendments with date in force (d/m/y) 1992, c. 19, s. 2 (1-3) - 24/08/1992; 1994, c. 17, s. 3 (1, 2) - 23/06/1994; 1997, c. 19, s. 3 (1) - 10/10/1997 2001, c. 8, s. 7 - 29/06/2001 2002, c. 17, Sched. F, Table - 1/01/2003 2004, c. 31, Sched. 8, s. 2 - 31/08/2007 2019, c. 15, Sched. 8, s. 2 - 10/12/2019