The Arizona sentinel., 1907-06-19
ARTICLE ".

That the amount of the capital stock author iZed and the times when and conditions upon which it is to be paid in, shall be as follows: The capital stock of this corporation shall be Fifty Thousand Dollars (S5O,O0O) divided into Five Hundred (5)0) shares of the par value of One Hundred Dollars (SiOO) each and fifty (50) per cent of said capital stock shall be sub Scribed and paid in at it's par value before this corporation shall commence business, and the remainder of said capital sto ;k shall be held in reserve by said corporation until the stockhold- CTS of this corporation at regular annual meeting thereof, or at q special meeting called for that purpose, shall, by majority vote of the stock represented at said meeting, author ize that the same may be subscribed and paid in and when Snch action Shall have been taken by the stockholders said stockholders shall have the first right to subscribe therefor and for the same amount that they shall each then own of the capital stock already paid in. And when said capital stock shall all be subscribed it shall be fully paid up and at price not less than par.
 ARTICLE V.
 That the time of the commencement of this corporation shall be the date of filing certified copy of these articles of incorporation in the
 
 and paying in fifty (5O) per cent of said capital stock and the termination thereof shall be twenty five years thereafter, unless said corpo- ration shall be further extended as provided by law.
 ARTICLE VT.
 That the affairs of this corporation shall be conducted by a board of directors, consisting of not fewer than five nor more than nine persons who shall be stockholders of this corporation, which board of directors shall be annually elected from among it's stockholders on the sec ond Tuesday of January in each year hereafter, at the hour of ten o'clock in the forenoon of said day, but if no election be held on tbat day it may be held at some later date by special meeting called for that purpose. The board of directors shall at their first meeting in each year, which meeting may be on the same day as the annual stockholders meeting. elect from among their number president and vice-preSi- dent they shall also at the same meeting elect a cashier and secretary, provided that the cashier and secretary may be one and the same person; and the board of directors may appoint such other officers and agents as they may de- tcrmine. The directors and officers of this cor poration shall hold their offices for one year and until their successors are elected and quail flied. Provided, however. that the board of directors shall have the power to remove at any time any of the officers or agents appointed by or elected by them, and the board of direct ors shall have the power to fill any vacancy, either in their own number or that of any of the offices of this corporation. The following named persons, who are subscribers to the cap ital stock of this corporation, are hereby ap- pointed directors of said corporation until the first annual meeting of the stockholders, which shall be held at the office of the company in the Town of Yuma, Arizona, on the second Tuesday in January, 1909 to-wit E. G. Caruthers John Gandolfo, M. J. Nugent, J. w. Darlington and A. Modest And E. G. Caruthers shall be pres ident, M. J. Nugent vice-president, and Henry M. Gandolfo, cashier and secretary, who shall hold their offices until the first annual meeting of the stockholders of this corporation, unless sooner removed by the board of direct orS.
 ARTICLE VII.
 The highest amount of indebtedness or lia bility io which this corporation is at any time to subject itself, over and above the amount due depositors is Sl5,OOOeO
 ARTICLE VIII.
 The private property of the stockholders of this corporation shall be exempt from the debts or liabilities of this corporation.
 ARTICLE K
 As soon as practicable after the filing of these articles in the office of the auditor of tle Terri tory of Arizona, the persons named herein as directors shall meet and organize as the board of directors and shall adopt bylaws and may iha in h1r-la he Of pal meetings of the board of directors and stock holders And at any meeting ot the board of