Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1905-06-22
ARTICLES OF INCORPORATION

ARTICLES OF INCORPORATION
OF THE
COMMERCIAL SAVINGS BANK, OF AUDUBON,
Iowa.
The persons whose names are subscribed
hereto. and all other persons who shall be
Come stockholders of this corporation, here
by associate themselves together as a body
corporate and organize and create a Corpor-
alton under Chapter l of Title TX of the
Code of Iowa. and adopt the following Ar
ticleS of Incorporation for the government
OF such association:
ARTICLE L.
NAME AND PLACEOF BUSINESS
The name of the corporation shall be
Commercial Savings Bank" and its place
of business shall be in the CITY of Audubon,
County OF Audubon and State of
ARTICLE III.
BUSINESS
The general nature of the business to be
transacted by this corporation shall be that
of a savings bank, conducted under the pro-
visions of Chapters 10 and ~ of Title TX of
the Code of Iowa and acts of the Legislature
amendatory thereof; and this corporation
singular the powers conferred upon savings
banks by the laws of Iowa, and accepts all
the duties and obligations imposed thereby.
ARTICLE III.
CAPITAL STOCK
The capital stock of this corporation shall
be Seventyive thousand dollars 1915, 00O.OO)
and shall be divided into shares OF one hun
dred dollars (SlOO) each, and shall be fully
paid before the corporation begins the
transaction of its business.
ARTICLE ".
DURATION
The existence of this corporation shall be-
gin on the date the Secretary of State issues
his certificate of incorporation, and shall
continue fifty years thereafter; and the cor
poratiOn may commence the transaction of
business when a certificate of the Auditor OF
state shall have been issued authorizing it
to do so. Its corporate existence may be
terminated at any time by a three-fourths
vote of the stockholders at any regular or
conformity with the articles of inCorpOra-
ton and in accordance with the provisions
OF the statute.
ARTICLE V.
BOARD OF DIRECTORS AND OFFICERS
SECTION THE affairs of this corporation
shall be conducted and managed by a board
of five directors, who shall be elected from
the shareholders at the annual meeting of
the corporation, and shall hold ONCE for the
term OF one year, and until their successors
are elected and qualified and have accepted
ONCE.
directors shall be filled by the remaining
members of the board. and the persons SO
appointed shall hold ONCE until the next an
nual meeting of the stockholders.
SECTION 3.-The board of directors shall
elect a president and viCe-president from
its members. aud snail also elect a cashier
from the stockholders, VINO may or may not
be a member of the board of directors, and
who shall also act as secretary OF the cor
poration. 1t may also elect and employ such
other officers and clerks as may be neCeS-
sary 10 the transaction of its business, and
shall fix the compensation OF all Officers and
employees.
ARTICLE VI.
ANNUAL AND SPECIAL MEETINGS OF
STOCKHOLDERS.
SECTION THE annual meeting of the
stockholders shall be held at the ONCE of the
corporation on the 3rd of January OF each
year, beginning with the year 1906, at which
time the stockholders shall elect a board OF
directors and transact such other business
as may lawfully come before them.
L Especial meetings of the stoCkhold-
ers may be called by the president, vice
president, or by a majority of the members
of the board of directors, or by the holder
or holders of a majority of the stock OF the
corporation. Ten OO days notice of the
time and place of such meeting shall be
given by the cashier, or the person or per-
sons calling such special meeting, by mail
ing a notice in writing to each stakeholder,
books of the corporation, which notice shall
state the object of the meeting, and no bust
ness other than that named in, the notice
shall be transacted at such special meeting,
unless all of the stock of the corporation
shall be represented. and no objection shall
be made by any stakeholder to the transac-
ton of business other than that named in
the notice.
SEC. 3-The voting at all stockholders
meetings shall be by ballot, and each share
of stock represented by the holder thereof,
or by his proxy duly authorized in writing,
shall be entitled TO one vote.
ARTICLE VII.
PROVISIONAL DIRECTORS
Until the first annual meeting of the stock.
holders, the following named persons shall
be the direc tors of the corporation:
Asmus Boysen, Gray, Audubon Co., Iowa,
G. Keller Leet, Aurora, Illinois.
Lid L, Leet, Audubon, Iowa,
Rosa l.. Thompson, Bradford, Illinois.
A. f. Beason, Audubon, Iowa,
@. f. BRENNAN, Audubon, Iowa.
Jens Werner, Audubon, Iowa.
ARTICLE VIII.
ANNUAL MEETING OF BOARD OF
DIRECTORS
The annual meeting of the board of direc-
tors shall be held on the 3rd day of January,
1908, and immediately following the adjourn
holders. at which time IL shall elect a presi-
dent, vice president and cashier, and may
elect or employ such other o~ficers, clerks
and employees as shall be deemed necessary
for the transaction of the business of the cor
poration. Until the FIRST annual meeting of
the board OF directors. the following named
persons shall be the ofhcers of the corpora
ton:
President. O.. Keller Leet. Aurora, Illinois,
Vice President O. E. BRENNAN, Audubon,
Iowa.
Cashier, o. p. Coon. Audubon, Iowa.
ARTICLE TX.
EXECUTION AND ACKNOWLEDGEMENT
Oh WRITTEN INSTRUMENTS
SECTION IAN deeds, mortgages and IN
In writing affecting real estate