The Arizona sentinel., 1907-07-03
ARTICLE TIT.

ARTICLE IT,
 That the general nature of the business pro- posed to be transacted by this corporation is that of a savings bank and loan association and of accommodating, loaning and investing the funds of it's stockholders and depositors. to re- caive money on deposit and loan and invest t1e same. with interest, and to repay dcposit0Fs. with or without interest, as may be agreed upon. and to do a general banking business and said corporation shall also have the power and authority to act astrustee for the issue of bonds ana mortgages for persons, companies or corporations for the purpose of borrowing money.
 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 (S5O0C0) divided into Five Hundred (5)O) shares of the par value of One Hundred Dollars (S100)- each, and fifty t39 per cent of said capital stock shall be sub scribed and paid in at it's par value before this corporation shall commence business, ana the remainder of said capital sto ;k shall be helo III reserve by said corporation until the stCcHhold- CTS of this corporation at regular annual meeting thereof, or at 9 special meeting called for that purpose, shall, by a majority vote or the stock represented at said meeting, author ] ize that the same may be subscribed and pald | in. and when snch action shall have been taken | by the stockholders said stockholders snail l have the first right to subscribe therefor ana | for the same amount that they shall each then l own of the capital stock already paid 1n Ana when said capital stock shall all be subscribed it shall be fully paid up and at price not less l than par.
 ARTICLE V.
 That the time of the commencement or thls corporation shall be the date of filing certlhco CODY of these articles of incorporation Ill the office of the auditor of the Territory of Arizona and paying in fifty (50) per cent of said capital stock and the termination thereof shall Dt twenty-five years thereafter, unless said corpo ration shall be further extended as provided bN law.
 ARTICLE VI.
 That the affairs of this corporation shall bt conduc ted by q board of directors, consisting o 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 O. said day. but if no election be held on tbat day it may be held at some later date by specia meeting called for that purpose. The board O directors shall at their first meeting in eacl year which meeting may be on the same da! as the annual stockholders meeting, elect iron among their number president and yice-presi in mo q cashier and secretary, provided that th cashier and secretary may be one and the sam person; and the board Of directors may appoin such other officers and agents as they may de terminc The directors and officers of this cor poration shall hold their offices for one yea and until their successors are elected and qual fled Provided, however. that the board o directors shall have the power to remove a any time any of the officers or agents appolnte by or elected by them, and the board of direct ors shall have tho power to fill any vacancy either in their own number or that of any 0 the offices of this corporation. The following named persons, who are subscribers to the cal ita stock of this corporation, are hereby al pointed directors of said corporation until tn first annual meeting of the stockholders, whlc shall be hold at the office of the company III tn | Town or uma ArlZOnd on the ScCOhu 1 uCSuti in January, 1908, to- wit: F. G. Caruthers, Joh Gandolfo. M. J. Nugent, J. w. Darlington an A. Modesti. And E. G. CaruthcrS shall he pres : dent. NJ. J. Nugcnt vice-prcsident and Henr I NJ. Gandolfo, cashier and secretary, wh - shall hold their offices until the first annua V meeting of the stockholders of this corporation t unless sooner removed by the board of direc l. ors.
 ARTICLE VII.
 Q The highest amount of indebtedness or ll' n bility io which this corporation is at any tin to subject itself, over and above the amour due depositors is Sl5,OOO0O
 ARTICLE VIII.
 7. The private property of the stockholders this corporation shall be exempt from the deb or liabilities of this corporation. A ARTICLE N.
 T As soon as practicable after the filing of the! articles in the office of the auditor of tie TerI a tory of Arizona. the persons named herein @ directors shall meet and organize as the boal S; of directors and shall adopt bylaws and rl2 e prescribe in said bylaws the method Of oallir meetings of the board of directors end stoc holders. And at any meeting ot the board