What are the main points of Article 370?

The main points in Article 370 are as follows:

• The provisions of Article 238 (dealing with the administration of Part B States) is not applicable to the state of J&K. The state of J&K was specified in the category of Part B states in the original constitution (1950). This article in Part VII was subsequently omitted from the Constitution by the 7th Constitutional Amendment Act (1956) in the wake of the reorganisation of states. 
• The power of parliament to make laws for the state is limited to:
• Those matters in the union list and concurrent list which correspond to matters specified in the state’s Instrument of Accession. These matters are to be declared by the president in consultation with the state government. 
• Such other matters in the Union List and the Concurrent List, which are specified by the president with the concurrence of the state government. This means that laws can be made on these matters only with the consent of the state of J&K. 
• The provisions of Article 1 and of this article are applicable to the state of J&K. 
• Besides the above, the other provisions of the Constitution can be applied to the state with such exceptions and modifications as specified by the President in consultation with the state government or in concurrence of the state government. 
• The president can declare that Article 370 ceases to be operative or operates with exceptions and modifications. However, this can be done by the President only on the recommendation of the Constituent Assembly of the state.

Further Reading :

• Article 370
• Former Special Status Of Jammu And Kashmir

To read more about Instrument of Accession [October 26, 1947], check the linked article.