458.3. The association may be formed on the application of ten ratepayers having a place of business in the district. The application shall be submitted to the council of the municipality.
The application must conform to the by-law passed under section 458.19 and contain the following information:
(a) the names of the applicants;
(b) the addresses of their places of business;
(c) the limits of the commercial district, using street names wherever possible;
(d) the proposed name of the association;
(e) the proposed address of its head office.
The application must be accompanied with a list of the names and addresses of the ratepayers having a place of business in the district, and with a sketch of the commercial district.