Arizona republican., 1911-09-15

The officers of this corporation shall be a President, a First Vie, President, and Secretary-Treasurel lwho shall be elected by the Director. annually hereafter on the second Tues day in March, at such time as the I ard of Directors may determine Until their successors are elected ana qualified the following named persons shall be the officers and shall consti- ute the Board of Directors of this 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 stOckholder in this lccrporatior. Any person ceasing to be a stockholder 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 mem bers of the Board for the unexpired term for which such persons are elect ed or appointed.
 ARTICLE VII.
 The Board of Directors shall in ad- dition to the powers hereinabove granted them. have the following pow CTS:
 l. To appoint such agents to aid in the management of it's 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 nec- |essary papers 1d security incident to the same
 3. To hypothecate. mortgage or pledge all or any part of the cor porate property, which it now owns or may hereafter acquire. to secure the payment of any money or mon eys borrowed or owed by it. or to se- cure the fulfillment of any of it's ob- Egations
 1. 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 [" life insurance corporations. on such terms and conditions as they shall prescribe. whether for cash. property or stock or bonds of other corpora tons
 ,. To make. alter. amend and sub stitute. any and all by laws. rules and regulations. necessary or proper, for the management and control of it's 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 in behalf of this corporation. such papers and documents which may re- quire execution and delivery on the part of this corporation.
 ARTICLE VIII.
  holders of this corporation shall be exempt from the corporate debts and liabilities of this corporation.
 ARTICLE TX.
 The highest amount of indebtedness or liability to which this corporation may at any time subject itself shall be the sum of Two Hundred Thou sand (2G0.0OO) Dollars.
 ARTICLE x.
 The Directors for the first year shall be the following:
 A. l.. LundGren. Temple. Texas. sydney Smith. Tempe Texas. John Busch. HuttO. Texas John Ljungren. Hutto, Texas $. 4. Watts. NJ D.. Pendelton. Texas IN WITNESS WHEREOF we have lereunto set our hands and seals on his the 9th day of September, A. D. 1911
 A. l.. LUNDGREN
 SYDNEY SMITH