The Arizona champion., 1888-12-01
Articles Of Incorporation.

Articles Of Incorporation.
Know ALL MEN ny THESE PRESENTS
That we, David Rabbit, William Munds.
C. II. Schulz, J. F. Daggs, Chas. C
Goven, ]. W. Francis, John Marshall
Allen Doyle, E. s. Gosney, J. A. Vail
ID. J. Brannen, P. P. Daggs, ]. Salzman.
Harry Fulton, w. NJ. Fain, Ed. NJ
Schaeffer. Thos. F. McNillon, ]. 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 Legisla>
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 tins corporation shall be
CITIZENS BANK, and its principal place
Of transacting business shall be at Flag
staff, in Yavapai County, Territory OF
Arizona.
SECOND.
The general nature oil 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 aud
personal property, stocks and bonds.
City, School, County and Territory War.
rants, and other securities ii writing:
IN bullion, and ores, nd 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
1880, 900 .oo) Dollars. divided into Five
Hundred tsoo) shares. of the par value
of One Hundred (sIoo.oo) Dollars each
The whole OF which clpital stock has been
bona fide subscribed, and one fifth OF
which shall be paid up before the corpora
ton shall commence business, and another
oDe-fiith oil 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 such
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 volunt AIRY liquidation
by the act Of its stockholders, owning,
at least, three,ifths 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,
president, vice~presldent and casa
Ter. The Board Of Directors shall be
elected by the ock.holders at their
annual meeting. and shall hold their
Office for one year, and until THEN sue
cessors are elected, unless otherwise
ordered by vote of the s!ock>h ldcrs
representing two.thirds of the capital
stock OF this corporation, at a 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 were
elected directors, unless disqualified or
sooner removed by two-thlrds vote OF
all the members of the board The
Board OF Directors shall elect OF appoint
cashier and such other officers and
clerks as may be required, and shall fix
the salaries to be paid them and con.
tiuue them in office or dismiss them,
as IN the opinion Of the majority
Board the interests of the. associatio
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 INK the penalty thereof; to regulate
the manner in which elections Of dlrec.
tors shall be held, and to appoint judges
OF election aud to make by laws that 1t
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 subjec.
itselfto greater liat ility or Indebtedness
than, an amount equal to its paid up
capital stock, except for deposites of its
customers.
SEVENTH.
No stock. holder of this corporation
shall be liable for the debts VI the corpo-
ration, except to the amount of the unpaid
installmen;s on the capital stock owaed
or held by such stock. holders.
EIUHrH.
The names OF the Board of Directors
agreed upon TO acl uatll the first annual
meeting oil stock. holders, are as follows:
William Munds, David Babbitt, Harry
Fulton, c. II. Schulz, J. +. Dogs, K.
S. Gosney and John Worries.
NINTH.
The regular annual meetings Of the
stock holders for the election OF Direc-
tors shall be held at the banking house
ON the second tuesday Of January OF
each year; but If no election is held a,
that time, it may be held any day there
after
TENTH.
Meetings Of the stock holders for any