Title 33, Chapter 20, Section 31
( 33-20-31)
Except for corporations subject to this chapter which are surviving
corporations, this chapter shall not apply to nor govern any
corporation which is organized for profit or which contemplates any
pecuniary gain to its shareholders or members. A corporation subject
to this chapter may organize subsidiary or affiliated corporations
to engage in allied business ventures in accordance with Chapters 13
and 14 of this title. |