The persons proposing to form any such company shall subscribe and acknowledge articles of incorporation specifying:
(a) The name, which shall contain the word "mutual," the purpose for which formed, and the location of such company's principal or home office, which shall be within this state.
(b) The names and addresses of those composing the board of not less than five directors in which the management shall be vested until the first meeting of the members.
(c) The names and addresses of the incorporators.