1. Activities of a SPLRC must be limited to those necessary to accomplish its purpose as outlined in its plan of operation.
2. The name must not be deceptively similar to or likely to be confused with another existing business name registered in the state.
3. The SPLRC must have at least three incorporators or organizers of whom not fewer than one must be a resident of the state.
4. The capital stock of a SPLRC incorporated as a stock company must be issued at not less than par value.