Audubon County journal. (Exira, Iowa) 1884-1993, 1904-03-17
ARTICLE VI.

ARTICLE vi.
The highest amount of Indebtedness or liza
bility to which this corporation shall at any
time be liable shall not exceed two-thirds OF its
capital stock.
ARTICLE VII.
The private property of the stockholders of
this corporation shall not be liable for corpor-
ate debts or obligations.
ARTICLE VII.
This corporation may be dissolved at any
regular or special meeting of the stockholders
by. a two.thirds vote of all the stockholders of
this corporation.
ARTICLE TX.
These articles may be changed at any regular
or special meeting of the stockholders by a two
thirds vote of all stockholders of this corpora
ton provided further that no vote can be taken
to change these articles unless notice of such
proposed change be mailed to the last known
address of each stockholder at least ten DAYS
before the meeting at which it is proposed to
effect snch change and the notice must
specify the meeting at which it will be asked
to make such change.
ARTICLE X.
This corporation may enact. adopt. change or
alter bylaws of this corporation and rules and
regulations for its government, conduct and
management not in consistent with these arti-
cles OF incorporation and the laws of the State
fof iowa at any regular or special meeting.
ARTICLE x1.
The general affairs of this corporation shall
be managed and conducted by board of di.
rectors
ARTICLE XII.
Section1. This corporation shall hold one
regular meeting each year at its principal place
after the first Monday in January commencing
at one o'clock p. m. of said day.
Section 2. Special meetings may be held upon
notice thereof being signed by three officers or
ten stockholders and mailed at least eight days
before said meeting to the last known post
Office address Of each stockholder, said notice
shall state the date of the proposed meeting and
the reason thereof. said meeting shall be held
at the principal place of business and at the
hour liked for RE regular meetings ,,,
shall be entitled to transact business unless
twelve stockholders of the corporation are
Section 1. Each stockholder shall be entitled
to one vote only, but votes may be cast by
proxy. all provisions in these articles with
reference to vote by stockholder shall be gov
erned by this section.
ARTICLE XIII.
The officers OF this corporation shall be as
follows:
Section /. a President. who shall hold his
office for one year and until his successor is
elected and qualified. and who shall be ex.
oficio, member of and the president OF the
board of directors.
Secton2. Six Directors who shall hold their
offices until their respective successors are
elected and qualified; three shall be elected for
one year, three for two years and thereafter
they shall be elected to hold office two years
respectively and they shall elect from their
number, one Nice-PreSident. one Secretary and
one Treasurer to hold office one year.
Sections. The President and Directors shall
be elected at the regular January meeting of
each year.
Section 4. The stockholders may by bylaws
prescribe the qualifications necessary and the
conditions to be complied with for the officers
of this corporation. and no person shall hold
Office in this corporation until he so qualities
and complies with the conditions prescribed.
Section .. ANY officer or director of this cor
poration may be removed by a two-thirds vote
of the stockholders.
Section 6. Vacancies in any Office may be
filed by the board of directors and in case all
offices become vacant the vacancies may be
filed by the stockholders at regular or special
meeting.
Section Z. Until the first annual meet ng and
until their successors are elected and qualified
the officers of this corporation shall be as
follows:
Rasmus Hansen, President; Christ Christen.
sen. Vice Presidents Peter Lykke Secretary;
S. c. Petersen. Treasurer; MAIDS Madsen Diresc.
tor; Ole H Jacobsen. Director; Chris Hansen
Director.
State of Iowa &c
Shelby county
Before me, S C.. Peterson Notary Pub
lie in and for said county, personally APP
pesIt0 I1dHSeus Wins SnIlSten-
sen, Christian Hansen, Peter Lykke. NJ.
| H. Madsen and o. H. Jacobsen, said per
sons being to me personally known to be
| the identical persons whose names are
subscribed to the foregoing articles of in
corporation and each for himself acknow-
Lodges the same to be his free and volun-
tary act and deed for the use and purpose
therein expressed.
Witness my hand and Notary
seal at Elkhorn, in the County
(SEAL) of Shelby and State of Iowa,
the day and year last above
written.
S. c. Petersen.
Notary Public.