SHEELY, P. J., May 20, 1963.
In their proposed articles of incorporation, the incorporators state that the purpose of the proposed corporation "is to promote the Arabian horse." This is insufficient.
Under section 203 (3) of the Nonprofit Corporation Law of May 5, 1933, P. L. 289, 15 PS §2851-203, it is provided that articles of incorporation shall set forth, inter alia, "A precise and accurate statement of the purpose or purposes for which it is to be...
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