The Arizona champion. [volume] (Peach Springs, Mohave County, A.T. [Ariz.]) 1883-1891, 1888-11-24

MuCl5S VI lhGUI puI1uull.
That we, David Rabbit, William Munds,
c. II. Schulz, J. F. Daggs, Chas. C.
Goven, ]. W. Francis, John Marshall,
Allen Doyle, E. S. Gosney, ]. A. Vail
ID. J. Brannen, p P. Daggs, ]. Salzman,
Harry Fulton. w. NJ. Fain, Ed. M
Schaeffer, Thos. F. McMillon. ]. T.
Munds, John Worries. have associated
ourselves, and do by these presents
associate ourselves together. as a body,
polite and corporate, under and by
virtue Of the provisions OF Chapter
Two, Of Title Twelve, OF the Re-
vised Statutes Of the Territory Of
Arizona, and the acts of the Leglsla>
ture of said Territory amendatory. and
suppleme ntary thereto, and do agree up>
on and establish the following Articles
OF Incorporation. as basis of said cor-
porate organization:
FIRST.
The name of this corporation shall be
CITIZENS BANK, and its principal place
of uansacting business shall be at Flag e.
staff, in Yavapai County. Territory OF
Arizona.
SECOND.
The general nature Of the business OF
this corporation shall be that of general
banking in all its branches, including the
borrowing and loaning of money, buying,
selling, discounting, holding, and deal.
ing in all kinds OF negotiable paper and
securities, mortgages on real estate and
personal property. stocks and bonds,
City, School, County and Territory War
rants, and other securities ia writing;
in bullion, and ores, and in all evi.
dences of debt on good and sufficient
security, to be determined upon by the
officers Of the bank.
THIRD.
The amount of Capital stock Of this
corporation shall be Fifty Thousand
1850, 900 .oo) Dollars, divided into Five
Hundred (soo) shares. Of the par value
Of One Hundred (sIoo.oo) Dollars each /.
The whole ofwhich capital stock has be- en-
bona fide subscribed, and one fifth Of
which shall be paid up before the corpora
ton shall commence business, and another
oDe.fiith OF the whole stock subscribed
shall be paid up within thirty days there.
after and the balance of SAID stock shall
be paid in from time to time in S UGH
amounts and at such times as the Board
of Directors shall order.
FOURTH.
The commencement of this corpora
ton shall date from the day Of the filing
of copy of these Articles of Incorpora-
ton in the Office of the Secretary Of the
Territory of Arizona. and shall continue
for the period Of twenty years, unless
sooner placed in voluntary liquidation
by the act of its stockholders, owning,
at least, three>hlths Of its stock.
FIFTH.
The affairs Of this corporation shall be
conducted by the following officers: A
Board Of Directors consisting OF not less
than FIVE stockholders, majority of
whom shall be quorum to do business,
a president, vice-presIdent aud cash
Ter. The Board Of Directors shall be
elected by the tock.holders at their
annual meeting, and shall hold their
ONCE for one year, and until their sue
cessors are elected, unless otherwise
ordered by a vote of the Stockholders
representing two thirds Of the capital
stock OF this corporation, at special
meeting called for that purpose. The
president and vice-president shall be
elected by the Board Of Directors from
among their number, and shall hol] their
Office for the term for which they we're
elected directors, unless disqualified or
sooner removed by two-thirds vote Of
all the members OF the board. The
Board Of Directors shall elect or appoint
a cashier and such other officers and
clerks as may be required, and shall fix
the salaries to be paid them and con-
tinue them in Office or dismiss them.
as in the opinion Of the majority
Board the interests of the associatio n
may demand. The Board of Directors
shall also, have power to define the duties
of the officers and clerks OF the
association; to require bonds of them
and FIX the penalty thereof; to regulate
the manner in which elections of direc.
tors shall be held, and to appoint judges
OF election and to make bylaws that it
may be proper and convenient for them
to make, not inconsist ent with these arts
cles and the law of the Territory of
Arizona, for the general regulation of the
business Of the association, and the man.
agement and administration of its affairs.
SIXTH.
This corporation shall not subject
itselfto greater liat ility Or indebtedness
than, an amount equal to its paid up
capital stock, except for deposites OF is
customers.
SEVENTH.
No stakeholder of this corporation
shall be liable for the debts Of the corpo-
ration, except to the amount Of the unpaid
inslalImen;s on the capital STOCK Owned
or held by such stock holders.
EIGHTH.
The names OF the Board of Directors
agreed upon to act until the first annual
meeting Of stock holders, are as follows
William Munds, David Babbitt, Harry
Fulton, c. II. Scnuiz, J. +. Dogs, l..
S. Gosney and John Worries.
NINTH.
The regular annual meetings Of the
stock holders for the election Of Dlrec.
tors shall be held at the banking house
On the second tuesday vi January oil
each year; but II no elecuon is held al,
that time il may be held any day there.