Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1907-10-10
Articles Of Incorpora-
ton of the Farmers
State bank Of Aud
ubon, Iowa.

The persons whose names are sub
scribed hereto, and all other persons
who shall become stockholders OF this
corporation, hereby associate them
selves together as BODY corporate
and organize and create a corpora
ton under Chapter of Title TX. of
the Code Of Iowa, and adopt the fol-
! lowing Articles of Incorporation for
! the government of such association:
ARTICLE I.
The name of the corporation shall
be 1.-THE Farmers State Bank" and
it's place of business shall be in the
city of Audubon, county of Audubon
and State of Iowa.
ARTICLE II.
The general nature of the business
to be transacted by this corporation
shall be general banking business,
conducted and carried on under the
provisions of Chapters IL and II of
Title TX of the Code of Iowa and acts
of the legislature amendatory thereof;
and to that end it shall have power to
have perpetual SUGGESTIONS; to sue and
be sued by its corporate name;to have
a common seal, which it may alter at
pleasure; to receive deposits: to dis
count notes, bills and other securities;
Ito buy and sell exchange, bonds,
notes, stocks, mortgages, gold and
silver; to loan money; to purchase,
hold and sell real and personal prop
erty; to exercise all of the powers
conferred upon banking corporations
organized under the laws of the State
of Iowa and conducting business un-
der the provisions of Chapters IL and
IL of Title TX of the Code,
ARTICLE III.
The capital stock of this corpora
ton shall be Fifty Thousand Dollars
$50, 900 0D), and shall be divided into
shares of one hundred dollars ($l00)
each, and shall be fully paid before
the corporation begins the transaction
of its business.
ARTICLE w.
The existence of this corporation
shall begin on the date the Secretary
of State issues his certificate of incor-
poration, and shall continue twenty
years thereafter; and the corporation
may commence the transaction of
business when a certificate of the
Auditor of State shall have been is
sued authorizing it to do so.
+ ARTICLE v.
Section l. The affairs of this cor
| poration shall be conducted and man.
aged by a board of directors, who
shall be elected from the stockholders
at the annual meeting of the corp ora
ton, and shall hold Office for the term
of one year, and until their successors
are elected and qualified and have &C
cepted Office.
Sec. 2. Any vacancy in the board
of directors shall be filled by the re-
naming members of the board, and
the persons so appointed shall hold
office until the next annual meeting
of the stockholders.
Sec 3. The board of directors
shall elect president and vice-presi'
dent from its members, and shall also
elect cashier from the stockholders
who may or may not be member o.
the board of directors, and who shall
also act as secretary of the corpora
ton. Itmay also elect and employ
such other officers and clerks as may
be necessary to the transaction of it:
business, and shall fix the compensa
ton OF all officers and employees.
ARTICLE vi.
Section /. The annual meeting o
the stockholders shall be held at tn,
office of the corporation on the fftl
of January of each year, beginning
with the year 1908, at which time tn,
stockholders shall elect board o
directors and transact such othe
business as may lawfully come befor
them.
Sec. 2. Special meetings of tn
stockholders may be called by tn
president, vice-president, or by ;
majority of the members of the boart
of directors, or by the holder or hold
ers of majority of the stock of tn
corporation. Ten Q0) days notice o
the time and place of such meeting
shall be given by the cashier, or tn
person or persons calling such specia
meeting, by mailing a notice in writ
ing TO each stakeholder, directed II
his address as shown upon the book
of the corporation, which notice shall
state the object of the meeting, and M
business other than that named in tn
notice shall be transacted at sucl
, special meeting, unless all OF the stool
of the corporation shall be represent
ed, and no objection shall be made b.
any stakeholder to the transaction o
business other than that named in tn
notice.
Sec. 3. The voting at all stock
holders meetings shall be by ballot
and each share of stock represente,
! by the holder thereof, or by his prox,
duly authorized in writing, shall b
entitled to one vote.
ARTICLE VII.
Until the first annual meeting of tn
stockholders, the persons named be
low shall be the directors of the cor
poration.
ARTICLE VIII.
The annual meeting of the board o
directors shall be held on the fifth da,
of January 1908, and Immediately fol