Arizona republican., 1895-06-12
ARTICLES OF INCORPORATION THE ARIZONA LAND COMPANY.


 We, Walter Bennett. Robert A. Brown and William Christy whose names are hereto sub scribed, for the purpose of forming corpora tiou and being incorporated under the laws of the territory of Arizona, and especially under an act of the Legislative Assembly thereof, en- titled ''An Act Concerning Corporations" ap- proved March 8th, 1887, and all acts ammend- atory thereto, have adopted, signed and ac knowledged these articles of incorporation.
 ARTICLE l.
 The names of the incorporators of this in corporation are William Christy, Walter Ben net and Robert A. Brown.
 The name of this corp oration by which it shall be designated and known shall be THE ARIZONA LAND COMPANY and its principal office for the transaction of business shall be at the city of Phoenix in the county of MaricOpa and territory of Arizona, and 1t may have such other offices and at such other places as US board of directors may from time to time here. after direct and designate.
 ARTICLE II.
 The general nature and character of the busi ness proposed to be transacted by this corpora tion shall be the buying, selling and dealing in and cultivating real estate; the issuing. buy ing, selling and dealing in notes, bonds and mortgages and other evidences of indebted ness; the buying, selling, holding and owning stock of other corporations and the buying, selling. constructing, owning and operating canals, canal sites, mllls mlu sites, dams, waterways, and water works.
 
 The capital stock of this corporation shall be Three Hundred Thousand (S300 000) Dollars, divided into Three Thousand (3,000) shares Of the par value of One Hundred ($lOU Dollars each.
 which said capital stock is to be paid 1n are as follows: All stock shal be paid for in full in cash or in property at the time the said stock Is issued, and no stock shall be issued by this com pany until it shall be fully paid for. after the said stock shall have been fully paid up the board of directors shall have the power to levy assessments upon the same whenever the exeginces of the company shall 1n their 1udg- ment, require such levy to be made, and in case of nOn-p payment of any assessments levied by the board of directors, the said stock upon which any assessment remains unpaid for 30 days after the same becomes due, may be sold at public auction to pay such assessment 1n such manner as the bylaws of the company shall direct.
 ARTICLE ".
 The time of the commencement of this cor poration shall be the date of the filing of these articles of incorporation for record and its termination shall be twenty-five years there- after.
 ARTICLE V.
 The office of this corporation shall be under the management and control of board of di rectors, who shall be stockholders of this cor porat1on and who shall be elected at the an- nual meeting of the stockholders in each year h til their successors are elected and qualified. The officers of this corporation shall be President, Vice President and Secretary, who shall be elected by the board of directors from among their number annually at the first meet. ing of the board of directors, after the annual stockholders meeting in July of each year The annual meeting of the stockholders of this corporation shall be held in the office of the corporation in the City of Phoenix, Arl- zona, on the second Tuesday of July in each year, and until the first annual meeting of the stockholders of this corporation in July, lo96' the following named persons, who are sub- scrbers to the capital stock of this corporation, shall constitute the boald of directors and oth- cers of this corporation, viz: William Chrlsty, President; Robert A. Brown, Vice President, and Walter Bennett, Secretary. Any person ceasing to be stockholder of this corpora lon shall cease to be @ director Vacancies in the board of directors shall be hiied oy the remain- ing members of the board of directors until the next annual meeting of the stockholders
 ARTICLE VI.
 The highest amount of indebtedness or liabil- ity to which this corporation shall at any time subject itself is the sum of Two Hundred Ano0'''-N ARTICLE VII.
 The private property of the stockholders of this corporation shall be exempt from the debts of this corporation except that the shares of stock of this corporation may be sold by the corporation to pay unpaid assessments thereon duly levied and assessed by the board Ot Q1rGCLOTs us duOFO PioNANOu HI N'o' ''
 ARTICLE VIII.
 The board of directors of this corporation shall have power to esta ablish s,by-laws for the management of the affairs of this corporation and the officers thereof, not contrary to law or inconsistent with these articles. Al ali meetings of the board of directors maiority of said directors shall constitute nuorum for the transaction of business.
 ARTICLE Tx.
 These articles of incorporation may be amended at any annual meeting of the stock holders, or at any specla! meeting caliea TOT that purpose by a two-t o-thirds vote Of the stock holders of this corporation voting for such amendment. " In witness whereof we have hereunto set our hands and seals this 27th day of May, A. D., 1895. n,,,,,,Dr r,
 ROBERT A. BROWN, [sEALl
 VIM. CHRISTY, lsEALl
 TERRITORY OF ARIZONA ss