Section 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.