Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1911-09-13

The officers of this corporation
shall be a President, a First Vice
President, and a Secretary Treasurer
who shall be elected by the Directors
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 and
Qualified the following named persons
shall be the officers and shall consti-
tUte the Board of Directors of this
corporation:
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 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 adj
dition to the powers hereinabove
granted them. have the following pow
ers:
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 nee
essary papers and security incident to
the same.
3. To hypothecate. mortgage or
pledge all or any part of the cor
porate property. which it now owns
OF may hereafter acquire. TO secure
the payment Of any money or mon
eys borrowed or owed by it. or to Sc
cure the fulfillment 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
To- life insurance corporations, on such
terms and conditions as they shall
prescribe, whether for cash. property
or stock or bonds Of other corpora
tons
3. To make. alter. amend and sub
stitute, any and all by laws. rules and
regulations, necessary or proper, for
the management and control of its Of
Ulcers. 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.
me private property or the stock
holders of this corporation shall be
exempt from the corporate debts and
liabilities of this corporation.
ARTICLE IX.
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 (200.O0O) 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.
s. A. Watts. NJ d, Pendelton, Texas
IN WITNESS WHEREOF we have
hereunto set our hands and seals on
this the 9Th day of September. a. d
1911
a. L. LUNDGREN.
SYDNEY SMITH.
JOHN BUSCH