Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1907-10-10

lowing the Adjournment or 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 nec-
essary for the transaction of the bust
ness OF the corporation.
ARTICLE TX.
Section /. 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
poration by it's president or vice pres
ident, and attested by the cashier,
with the corporate seal thereto affixed.
Sec. 2. Releases of mortgages and
other liens held by the corporation,
and satisfaction thereof, may be made,
executed and acknowledged by the
president, vice-president or cashier Of
the bank
Sec. 3. All other written instru-
ments which may be made by the cor
poration shall be executed by such
officers or agents as the bylaws may
designate.
ARTICLE x.
Section /. The shares of stock of
the corporation shall be issued only
upon full payment of the sums repre-
sented by them, and shall be trans
ferable onl y by assignment upon the
books of the corporation.
Sec. 2. The certificates of stock is
sued to the shareholders shall be
signed by the president or vice .presi-
dent, and attested by the cashier, and
hnu 70 10 70
to.
ARTICLE XII.
The highest amount of Indebtedness
to which this corporation may at any
time subject itself, except for deposits,
shall not exceed one-half of its CAPT.
tai stock.
ARTICLE XII.
The private property of the stock
holders shall be exempt from corpo-
rate liability, except to the extent and
in the manner provided by the consti.
tuition and laws of the State.
ARTICLE XIII.
The board of directors, may by two
thirds vote, make and adopt bylaws
which are not in conflict with the laws
of the State or these articles of incor-
poration, for the management of the
property OF the corporation the trans
action of its business, and the regula-
ton of it's affairs; and may by a like
vote alter or change such bylaws.
ARTICLE XIV.
These articles ofincorporation may
be amended at any regular meeting of
the stockholders, or at a speci al meet
ing called for that purpose, by a two
thirds vote of the capital stock of the
corporation.
ARTICLE XIV.
This corporation may be dissolved
prior to the time fixed in it's articles
OF incorporation, by an affirmative
vote of its stockholders holding three
fourths of its capital stock, at q meet
ing of the stockholders called for
that purpose ia the manner required
by law in these articles of incorpora-
ton; and in case of such dissolution
its affairs shall be wound up in the
manner provided by statute.
Dated this Second day of September
1907.
E. Bilharz M. T. Foley
Matthias Johnson Geo. A. Foley
Thomas Law c.. H. Sampson
F. d. Nelson
DIRECTORS.
STATE OF IOWA,
AUDUBON COUNTY, SIS
On this Second day of September,
"A. ID. 1907, before me personally APP
peared E. Bilharz, Matthias Johnson,
Thomas Law, F. d. Nelson, M. T.
Foley, George A. Foley, G. H. Samp-
son, to me known to be the persons
named in and who executed the fore
going articles of Incorporation of The
Farmer State Bank, of Audubon,
Iowa, and acknowledged that they
executed the same as their voluntary
act and deed.
JOE FL. Ross,
l. Notary Public.
In and for Audubon County. Iowa.