Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1910-08-03
Articles of Incorporation
of the
BURR OAK SAVINGS BANK,
of
Burr Oak, Iowa.

holders of this corporation, hereby
associate themselves together as a
body corporate and organize and
create corporation under Chapter
1 of Title TX of the Code of Iowa,
and adopt the following Articles of
Incorporation for the government
of such association:
ARTICLE 1.
Name and Place of Business.
The name of the corporation shall
be Burr Oak Savings Bank" and
its place of business shall be in the
City of Burr Oak, County of Win
neshiek and State of Iowa.
ARTICLE ii. :.
Business.
The general nature of the bust
ness to be transacted by this corpor-
alton shall be that of savings
bank, conducted under the pro-
visions of Chapters 10 and IL Of
Title TX of the Code of Iowa and
acts of the legislature amendatory
thereof; and this corporation here
by assumes and takes to itself all
and singular the powers conferred
upon savings banks by the laws CT
Iowa, and accepts all the duties and
obligations imposed thereby.
ARTICLE III.
Capital Stock.
The capital stock of this corpor-
alton shall be Ten Thousand Dol
lars (S1O,OO0.0O), and shall be di-
vided into shares of one hundred
dollars ($100) each, and shall be
fully paid before the corporation
begins the transaction of it's busi-
ness.
ARTICLE Nv.
Duration.
The existence of this corporation
shall begin on the date the Secre-
tary of State issues his certificate of
incorporation, and shall continue
fifty years thereafter; and the cor
poration may commence the trans
action of business when a certificate
of the Auditor of State shall have
been issued authorizing it to do so.
Its corporate existence may be term
mated at any time by three-fourths
vote of the stockholders at any
regular or special meeting called for
that purpose, in conformity with the
articles of Incorporation and in ac-
cordance with the provisions of the
statute.
ARTICLE V.
Board of Directors and Officers.
Section 1. The affairs of this
corporation shall be conducted aud
managed by a board of Z directors,
who shall be elected from the
shareholders at the annual meeting
of the corporation, and shall hold
office for the term of one year, and
until their successors are elected
and qualified and have accepted
office.
Sec. 2. Any vacancy in the
board of directors shall be filled by
the remaining members of the
board, and the persons so appointed
shall hold Office until the next an
nual meeting of the stockholders.
Sec. 3. The board of directors
shall elect president and vice.
president from it's members, and
shall also elect chashier from the
stockholders, who may or may not
be member of the board Of di-
rectors, and who shall also act as
secretary of the corporation. II
may also elect and employ such 9TH
er officers and clerks as may be ne
cessary to the transaction of its
business, and shall fix the compen-
sation of all officers and employees.
ARTICLE vi.
Annual and Special Meetings of the
Stockholders.
Section 1. The annual meeting OF
the stockholders shall be held at the
Office of the corporation on the 3rd
Monday in January of each year,
beginning with the year 1911. at
which time the stockholders shall
elect board of directors and trans
act such other business as may law
fully come before them.
Sec. q. Special meetings of the
stockholders may be called by the
president, vice-president, or by a
majority of the members of the
board of directors, or by the holder
or holders of majority of the stock
of the corporation. Ten G0) days
notice of the time and place of such
meeting shall be given by the
cashier, or the person or persons
calling such special meeting, by
mailing notice in writing to each
stakeholder, directed to his address
as shown upon the books of the
corporation, which notice shall
state the object of the meeting, and
no business other than that named
in the notice shall be transacted at
such special meeting, unless all OF
the stock of the corporation shall
be represented, and no objection
shall be made by any stakeholder
to the transaction of business other
than that named in the notice.
Sec. 3. The voting at all stock
holders meetings shall be by ballot
and each share of stock represented
by the holder thereof, or by his
proxy duly authorized in writing
shall be entitled to one vote.
ARTICLE VII.
Provisional Directors.
Until the first annual meeting OF
the stockholders, the following
named persons shall be the directors
of the corporations:
j. e. Briggs, Burr Oak. Iowa.
J. A. Thompson, Burr Oak, Iowa.
w. II. Emmons, Burr Oak, Iowa.
VIM. Hilleman. Prosper, Mimi.
e. A. Headington, Prosper, MINI.
A. Rollins, Prosper, MINI.
l. n. Reed, Burr Oak, Iowa.
|