The Norfolk weekly news-journal. (Norfolk, Neb.) 1900-19??, 1908-07-10

power to sell, transfer or dispose OF
any real estate, bonds, warrants, mort
gage or investments, which 1t may
have secured in the regular course OF
its business, at any time the board or
directors may direct for the best inter
est of the company
Sec. 4. A sum equal to the net re-
serve on all policies in force on a
basis not less than that required by
the actuaries table of mortality and
four per cent interest. the first year
being computed as term insurance
when so desired, shall be invested in
the securities prescribed in section 2
of this article, and kept on deposit
with the auditor of public accounts at
Lincoln, Nebraska, for the benefit and
security of the policy holders. =
ARTICLE VII Y
How Money Shall be Paid Out.
Section /. No money shall be paid
out and no expenditure whatever shall
be made, except same shall have been
authorized in the bylaws or byspeciaI
authority of the board of directors OF
of the executive committee No con-
tribution shall be made by or for tho
company to any political, legislative
OF other organization or association
of any kind or for any purpose what
ever.
Sec. @ All salaries or other com
pensation of directors, officers en-
ployees or agents shall be fixed hg
the board of directors.
ARTICLE VIII. &
Annual Distribution of Surplus.
Section |. The surplus earnings or
the company shall belong exclusively
to the policy holders, and shall be am
nually divided among the members
of the company whose policies are in
full force in the following manner,
and not otherwise. At the end OF
each calendar year the directors OF
the company shall cause to be made
valuations of every policy in force and
of all other liabilities of the company.
| The excess of the assets of the COM
| pany after deducting all of said liabit-
tiles shall be the surplus. Out of such
surplus the board of directors shall
cause to be set aside such sum as may
be necessary to maintain the permat-
ency and stability of the company,
and the balance shall be apportioned
to the policies in force according to
their terms.
| ARTICLE VILE.
Commencement and Termination Of
Corporate Existence.
Section /. This corporation shah
commence business on approval OF
these articles by the auditor of public
accounts and the attorney general and
shall continue for ninety-nine years
| thereafter.
ARTICLE TX.
No Personal Liability.
| Section l. No person shall incur
any personal liability for losses or
other obligations or liabilities of tho
company by reason of being policy
holder or contract holder in the same,
or as an incorporation, or officer or
director thereof.
IN WITNESS WHEREOF, we the
undersigned corpOrators of said COM
pany have hereunto subscribed our
names, this 2Sth day of May A. u
1908.
S. ]. G. IRWIN,
o. w. RICE,
H. C. MASON, Z
ALEX PETERS,
CHAS. ATKINSON,
E. C. MERIT,
f. l.. BRUSH,
Fl. ]. STEINHAUSEN,
Witness to all seven signatures.
State of Nebraska 2
County of Knox, SIS
Be it known that on the 2Sth day
of May, 1908, A. D., personally APP
peared before me the undersigned mo-
tary public duly commissioned and
qualified for and residing in said
county, s. j. G. Irwin, o. w. Rice,
H. G. Mason, Alex Peters, Chas. Atkin-
son, e. c. Mertz and E. L. Brush, to
me known to be the identical persons
whose names are affixed to the above
instrument, who executed the same
in my presence, and severally acknow-
lodged the execution thereof to bo
their voluntary act and deed.
Witness my hand and notarial seal
the day and year last above written.
! Notary's H. ]. STEINHAUSEN.
| I Seal Notary Public.
My commission expires February
18th, 1914.
These articles of incorporation APP
proved this list day of June, 1908.
Il. NJ. SEARLE, JR.,
| Auditors Auditor of Public Ac-
| [ Seal counts.
The within and foregoing articleS
of incorporation approved by me this
2nd day of June A. d., 1908.
w. T. THOMPSON,
Attorney General