Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1911-09-12

The officers Of this corporation
shall be a President, a First Vic,
President. and a Secretary-Treasure
who shall be elected by the Director.
annually hereafter on the second Tues
day in March, at such time as tn,
II ard of Directors may determine
Until their successors are elected anC
qualified the following named person.
shall be the officers and shall consti.
tute the Board of Directors of thi.
corporation:
A. L. Lundgren, President and Di-
rector.
John Busch, First Vice President
and Director.
Sydney Smith, Secretary Treasurer
and Director.
The Directors shall hold their Of
fees for the term of one year from
the date Of their election. and until
their successors shall have been duly
elected, unless they shall in the mean
time cease to be a stakeholder in this
corporation. Any person ceasing to be
a stakeholder in this corporation shall
cease to be a director or officer in
the same.
Vacancies in the Board OF Directors
may be filled by the remaining men,
bers of the Board for the unexpired
term for which such persons are elect
ed or appointed.
ARTICLE VII.
The Board Of Directors shall i'm adj
dition to the powers hereinabove
granted them, have the following pow
crS:
l. To appoint such agents to aid in
the management of its business and
in conducting the affairs of the cor
poration as they may deem advisable
and determine and fix their compen-
satiOn.
?. To borrow money on behalf of
the corporation and contract to re-
pay the same, at such time and at
such rate Of interest as they may
deem proper; and to execute all nee
essary papers and security incident to
the same
,. To hypothecate. mortgage or
pledge all or any part of the cor
porate property, which 1t now owns
or may hereafter acquire. to secure
the payment OF any money or mon
eys borrowed or owed by it. or To Sc
cure the fuIfillment Of any of its OBJ
legations.
4. To sell, assign. convey or other
wise dispose of any or all of the prop
erty and assets of the corporation,
rot inconsistent with the laws relative
10 life Insurance corporations, on such
terms and conditions as they shall
prescribe, whether for cash. property
OF stock or bonds of other corpora
tons.
5. To make, alter, amend and sub
sutute. any and all by laws, rules and
regulations, necessary or proper. for
the management and control of its Of
ficers, agents, servants and represen-
tatives. and for the proper conduct OF
its affairs and business.
6. To authorize and direct any Of
ficer to make, execute and deliver for
and i'm behalf Of this corporation, such
papers and documents which may re-
Iuire execution and delivery on the
part OF this corporation.
ARTICLE VIII.
The private property Of the stock
holders of this corporation shall be
exempt from the corporate debts and
liabilities Of this corporation.
ARTICLE TX.
The highest amount Of indebtedness
n liability to which this corporation
nay at any time subject itself shall
De the sum of Two Hundred Thou
and (200.000) Dollars.
ARTICLE Y.
The Directors for the first year
hall be the following:
\. l.. Lundgren, Temple, Texas
Sydney Smith, Tempe, Texas.
John Busch. Hutto. Texas.
John Ljungren, Hutto. Texas.
$. a. Watts. NJ d, PendeltOn. Texas
IN WITNESS WHEREOF we have
ereunto set our hands and seals on
his the 9Th day of September a. Il.
S11.
A. L. LUNDGREN.
SYDNEY SMITH.