The Norfolk weekly news-journal. (Norfolk, Neb.) 1900-19??, 1908-07-03
j.. MEAD CYCLE COMPANY, CHICAGO, III.

power to SELL transfer or dispose on
any real estate, bonds, warrants, mort
gage or investments, which tt may
have secured in the regular course OF
its business, at any time the board OF
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
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 i'm
the securities prescribed in section z
of this article, and kept on deposits
with the auditor Of public accounts at
Lincoln, Nebraska, for the benefit and
security of the policy holders.
ARTICLE VII.
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 byspeciaA
authority of the board of directors or
of the executive committee. No con-
tribution shall be made by or for the
company to any political, legislative
or other organization or association
of any kind or for any purpose what
ever.
Sec. 2. All salaries or other COM
pensation of directors, officers, en-
ployeeS or agents shall be fixed by
the board OF directors.
ARTICLE VIII.
Annual Distribution of Surplus.
Section 1. The surplus earnings OF
| tho chal1 holpnu
to the policy holders, and shall be an
nually divided among the members
of the company whose policies are i'm
full force in the following manner,
and not otherwise. At the end Of
each calendar year the directors or
the company shall cause to be made.
a valuationof 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 liabif-
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 perman-
ency and stability of the company,
and the balance shall be apportioned
to the policies in force according to
their terms.
ARTICLE WIZ.
Commencement and Termination OF
Corporate Existence.
i Section l. This corporation shall
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.
Il Section |. No person shall incur
any personal liability for losses or
other obligations or liabilities of the
company by reason of being a 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 Nav, A. d
1908.
S. ]. G. IRWIN,
o. w. RICE,
II. C. MASON,
! ALEX PETERS,
CHAS. ATKINSON.
/ E. C. MERIT,
f. l.. BRUSH,
H. ]. STEINHAUSEN,
Witness to all seven signatures.
, State of Nebraska,
County of Knox, IS
Be it known that on the 28th day
of May, 1908, A. D., personally APP
peared before me the undersigned no
2 tary public duly commissioned and
! qualified for and residing in said
: county, s. ]. G. Irwin, o. w. Rice
: H. c. Mason, Alex Peters, Chas. Atkin-
. son, e. C. Mertz and f. l.. Brush, to
r me known to be the identical persons
e whose names are affixed to the above
instrument, who executed the same
+ in my presence, and severally acknow-
I lodged the execution thereof to be
S their voluntary act and deed
d Witness my hand and notarial seal
d the day and year last above written.
( Notarys I II. ]. STEINHAUSEN.
r I Seal Notary Public.
f My commission expires February
s 18th, 1914.
/. These articles of incorporation ap-
r proved this list day of June, 1908.
II Il. NJ. SEARLE, JR.,
s Auditors I Auditor of Public Ac-
|. Seal, counts.
e The within and foregoing articles
d Of incorporation approved by me this
g 2nd day of June, A. d., 1908,
w. T. THOMPSON,
e Attorney General