Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1899-12-19
ARTICLES OF INCORPORATION
of the
ARIZONA MUTUAL SAVINGS AND
LOAN ASSOCIATION.

The undersigned. desiring to asso.
ciate themselves, and such other per
sons as may hereafter become asso-
ciated with them, together for the pur-
pose of incorporating a savings AMI
loan corporation under the laws of the
territory of Arizona, do make, execute
sign, acknowledge, file and publish tbs
following articles of Incorporation:
ARTICLE I.
The names of incorporators are:
Benjamin F. Porter, George H. "
Luhrs, James NJ. Swetnam, Arthur J.
Edwards and Fred L. Blumer. The
the ARIZONA MUTUAL SAVINGS
AND LOAN ASSOCIATION" The
principal office and principal place of
transacting business of said corpora
ton shall be at the city of Phoenix
Maricopa county, Arizona territory
but said corporation may establish and
maintain offices at such other places as
the board of directors may deem
proper.
ARTICLE II.
The purposes for which this corpora
ton is organized and the general ma
ture of the business proposed to be
transacted shall be and is the accumu-
lation and loaning the funds of its
members, stockholders and depositors;
to receive deposits of money, loan, in
vest and collect the same, with inter
est, and repay depositors with or with
out interest; and generally to loan
money on real estate and other valuable
securities; and to receive on deposit
the savings of such persons as may
desire to deposit them, and to pay in
terest and dividends on the same as
they may accrue; and if deemed desir-
able to do a general banking business.
ARTICLE III.
The capital stock of this corporation
shall be ten million dollars Oslo, 900 O0O),
to be divided into one hundred thou
sand shares of one hundred dol
lars (s100.0O) each, and shall be issued
at such times and in such amounts as
the board of directors may determine,
and shall be paid in such manner as
the bylaws of this corporation shall
specify.
ARTICLE ".
This corporation shall commence
business on the 23rd day of October,
1899, and shall terminate twenty five
years thereafter; hereby reserving the
right to renew the same from time 10
time for further periods of twenty
years each when three-fourths of the
votes cast at any regular election held
for that purpose shall be in favor of
such renewal.
ARTICLE V.
The affairs of this corporation shall
be conducted by a board of directors
consisting of five stockholders, who
shall be elected as follows: One at
each annual meeting, to serve for a
term of five years.
ARTICLE VI.
The highest amount of indebtedness
or liability to which the corporation is
at any time to subject itself shall not
exceed one hundred thousand dollars,
and that only for money obtained, or
for real estate or other valuable prop
erty acquired for the purpose of re-
investment by the corporation.
ARTICLE VII.
The private property of the stock
holders of this corporation shall not be
liable for the debts of the corporation.
ARTICLE VIII.
The annual meeting of the stockhold-
ers of this corporation shall be held
on the first Tuesday of January of
each year, commencing with the year
1901. Until said first annual meeting
| to be held on the first Tuesday of
| January, 1901, the following persons
shall constitute the board of directors of
said corporation; that is to say: George
| H. n. Luhrs; Benjamin F. Porter,
whose term of office shall be and con-
| tinue until one year after said first an
nual meeting; Arthur ]. Edwards,
whose term of Office shall be and con-
tinue until three years after said first
annual meeting; Fred L. Blumer, whose
term of office shall be and continue I'M
til three years after said first annual
meeting; and James NJ. Swetnam,
whose term of office shall be and
continue until four years after said
first annual meeting.
ARTICLE TX.
| Inc DOdru Oh directors shall nave
power to adopt and enforce bylaws for
the government of the affairs of the
corporation; and as it may from time to
time seem to them expedient amend,
repeal, modify, suspend or otherwise
change the same.
In Witness Whereof, the parties have
hereunto set their hands this 21st Gay
of October, 1899.
! BENJAMIN F. PORTER.
| GEORGE H. N. LUHRS.
JAMES NJ. SWETNAM.
ARTHUR ]. EDWARDS.
FRED L. BLUMER.
Territory of Arizona, County of Mari
copa, SIS.
Before me-. W. Walker, a notary
public in and for the county of Mari
/ md or of Ariz l.