Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1911-09-28
Articles of lncor-
poration of the
Farmers Savings Bank
Gray, Iowa
ARTICLE l


The name of this Corporation shall
be FARMERS SAVINGS BANK
and it's place of business shall be in
Gray, Audubon County, Iowa.
ARTICLE ii
The object of this Corporation is
to transact the usual business of a
Savings Bank under the provision of
the acts referred to in the above
Preamble and it hereby takes unto
itself any and all powers, and
accepts all the duties and obligations
prescribed and imposed by the laws
of the State of Iowa as above refer
red to and the provisions of Chapter
Twelve Q2), Title Nine 90 of the
Code of Iowa and all acts of the leg
islature amendatory thereto that
have been heretofore or that may
hereafter be enacted for the govern
ment and control of a savings bank.
ARTICLE III
The amount of capital stock of this
corporation is Ten Thousand ($10,-
OOO.OO) Dollars divided into shares of
One Hundred ($1O0O0) Dollars each,
all of which is fully paid up in cash.
ARTICLE Nv
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.
ARTICLE v
Sec. 1. The affairs Of this corpor'
alton shall be conducted and man
aged by board of Seven ca direc'
tors, who shall be elected from the
stockholders at the annual meeting
of the corporation and shall holC
Office for the term of one year, anC
until their successors are elected
and qualified and have accepted
Office.
Sec. 2. Any vacancy In the BoarC
of Directors shall be filled by the re
manning members of the Board at /;
regular or special meeting held with
in thirty days after vacancy occurs
and the person so appointed shall
hold Office until the next annua
meeting of the stockholders.
ARTICLE vi
Sec. /. The annual meeting of tn
stockholders shall be held at tn
Office of the corporation on the FRS
Monday in January of each year be
ginning with the year 1912 at whicl
time the stockholders shall elect
Board of Directors and transac
such other business as may lawful
come before them.
Sec 2. Special meetings of tn
stockholders may be called by tn
President, Vice-President or by ma
jority of the members of the Boar,
of Directors, or by the holder o
holders of a majority of the stock o
the corporation. Ten (10O days no
tice of the time and place of sucl
meeting shall be given by the Cash
Ter, or the person or persons calling
such meeting, by mailing notice il
writing to each stakeholder, directet
to his address as shown upon tn
books of the corporation, which no
tice shall state the object of tn
meeting; and no business other thai
that named in the notice shall b
transacted at such special meeting
unless all the stock of the corpora
ton shall be represented, and no OBJ
lection shall be made by any stock
holder to the transaction of business
other than that named In the notice
Sec. 3. The voting at all stock
holders meetings. shall be by ballo
and each share of stock represented
by the holder thereof, or by hi
proxy, duly authorized in writing
shall be entitled to one vote.
Sec. 4. Until the first annual meet
ing of the stockholders the follow
ing named persons shall be the Di
rectors of the corporation:
Louis Groteluschen, Gray, Iowa.
e. c. Rice, Gray, Iowa.
J. F. Liken, Gray, Iowa.
F. r. Mclaughlin, Manning, Iowa
e. H. Steere, Audubon, Iowa.