Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1907-10-31
Articles Of Incorpora
ton Of the Farmers
State bank of Aud
ubon, Iowa.

selves together as q BODY corporate
and organize and create corpora.
tionaunder Chapter | of Title tx. of
the Code of Iowa, and adopt the fol-
lowing Articles OF Incorporation for
the government Of such associations
ARTICLE /.
The name of the corporation shall
be THE Farmers State Bank, and
its place of business shall be ia the
city Of Audubon, county Of Audubon
and State OF Iowa.
ARTICLE III.
The general nature Of the business
/ To be transacted by this corporation
| shall be a general banking business,
conducted and carried on under the
provisions Of Chapters IL and T. of
4 Title y Of the Code of Iowa and acts
Of the legislature amendatory thereof;
and to that end it shall have powerto
! have perpetual succession To sue and
| be sued by its corporate name; To have
a common seal, which 1t may alter AT
! pleasure; to receive deposits: To dis
count notes, bills and other securities;
/ to 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 | and
II Of Title TX of the Code,
ARTICLE H.
The capital stock OF this corpora
tion shall be Fifty Thousand Dollars
| $3.50, 100000, and shall be divided into
shares of one hundred dollars (Sl00)
each, and shall be fully paid before
the corporation begins the transaction
| Of it's business.
ARTICLE w.
The existence Of this corporation
shall begin on the date the Secretary
of State issues his certificate Of incor
| poratiou, 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 corpora
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 ia 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.
See. g. The board OF directors
shall elect president aud vice. presi-
| dent from its members, and shall also
elect cashier from the stockholders,
who may or may not be n member of
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
he necessary to the transaction Of its
business, and shall fix the compensa-
ton Of all officers and employees.
ARTICLE VI.
Section |. The annual meeting of
the stockholders shall be held at the
office of the corporation on the fifth
of January Of each year, beginning
with the year 1908, at which time the
stockholders shall elect board OF
directors and transact such other
business as may lawfully come before
them.
Sec. 2. Special meetings OF the
stockholders may he called by the
president, vice-president, or by a
majority Of the members of the board
OF directors, or by the holder or hold
ers OF majority Of the stock Of the
corporation. Ten Q0) days notice Of
the time and place Of such meeting
shall be given by the cashier, or the
person or persons calling such special
meeting, by mailing a notice in writ
ing to each stakeholder, directed to
his address as shown upon the books
Of the corporation, which notice shall
] state the object OF the meeting, and no
| business other than that named in the
notice shall be transacted at such
special meeting, unless all Of the stock
of the corporation shall be represent
ed, and no objection shall be- made by
/ any stakeholder To the transaction OF
business other than that named in the
notice.
Sec. g. The voting ut all stock
holders meetings shall be by ballot,
anu zach SfldTt Vi SbOCh ItpICSbItcd
by the holder thereof, or by his proxy
duly authorized in writing, shall be
entitled to one vote.
ARTICLE VII.
Until the first annual meeting Of the
stockholders, the persons named be-
low shall be the directors Of the cor
i poration.
i ARTICLE VIII.
The annual meeting OF the board of
directors shall be held on the fifth day
of January 1908, and Immediately fol-
lowing the adjournment of the annual
meeting of the stockholders, at which
time it shall elect a president, vice.
president and cashier, and may elect
or employ such other officers, clerks
or employees as shall be deemed nee
essary for the transaction of the bust
ness of the corporation.
ARTICLE TX.
Section l. All deeds, mortgages
and instruments in writing affecting
real estate which shall be made by the
corporation, shall be executed and
acknowledged in the name of the cor
4 pnpatinn hu ito praaidapt or yica- nras-