Audubon County journal. (Exira, Iowa) 1884-1993, 1907-10-17
Articles Of Incorporation of the Kim
ballton Danish Savings Bank
of KimballtOn. Iowa.

The persons whose names are sub
scribed hereto, and all other persons who
shall become stockholders of this corpo-
ration, hereby associate themselves to-
gether as body corporate and organize
of Title TX of the Code of Iowa, and adopt
the following Articles of Incorporation for
the government of such associations:
ARTICLE /.
NAME AND PLACE OF BUSINESS.
The name of the incorporation shall be
it's place of business shall be in the city of
Kimballton. County of Audubon and
State of Iowa.
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 provisions of Chapters 10 and IL of
Title * of the Code of Iowa and acts of
the legislature amendatory thereof; and
this corporation hereby assumes and
takes to itself all and 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 Twenty Thousand Dollars
of one hundred dollars $500 each, and
shall be fully paid before the corporation
begins the transaction of it's business.
ARTICLE ~.
DURATION.
The existence of this corporation shall
begin on the date the Secretary of State
issues his certificate of incorporation, and
shall continue fifty years thereafter
and the corporation may. commence the
of the Auditor of State shall have been
issued authorizing ii to do so. Its corpor
ate existence may b. terminated at any
time by a three-fourths vote of the stock
holders at any regular or special meeting
called for that purpose, in conformity with
the articles of Incorporation and in
accordance with the provisions of the
ARTICLE V.
BOARD OF DIRECTORS AND OFFICERS
| SECTION 1. The affairs of this corpora
ton shall be conducted and managed by
| board of seven directors, who shall bt
elected from the shareholders at the an
nual meeting of the corporation, and shall
hold office for the term of one year, ant
until their successors are elected ant
qualified and have accepted Office.
| SEC. 2. Any vacancy in the board of di
rectors shall be filled by the remainin.
members of the board and the persons ST
annual rneeting of the stockholders.
SEC. 3. The board of directors shall
elect president and vice-president from
ier from the stockholders, who may o
may not be a member of the board of di
| rectorS, and who shall also act as secre
tary of the corporation. 1t may also cleo
and employ such other officers and clerk
as NAV be necessary to the transaction o
it's business, and shall fix the compensa
ton of all officers and employees.
ARTICLE vi.
! ANNUAL AND SPECIAL. MEETINGS OF TIL
STOCKHOLDERS.
| SECTION /. The annual meeting of tn
stockholders shall be held at the office G
the corporation on the third Wednesda
of January of each year, beginning witt
the year 1909, at which time the stockhold
ers shall elect board of directors an
transact such other business as may Law
fully come before them.
SEC. 2. Special meetings of the stool
holders may be called by the president
vice-president, or by majority of Tia
members of the board of directors, or b
the holder or holders of majority of tn
stock of the corporation. Ten dO) day!
notice of the time and place of such meet
ing shall be given by the cashier, or tn
person or persons calling such specie