The Oskaloosa herald., 1911-07-06
ARTICLES OF Incorporation
OF Farmers Savings Bank of LEIGH.
ton, Iowa.

The persons whose names are sub
scribed hereto and all other persons
who shall become stockholders of this
corporation, hereby associate them
selves together as a body corporate
and organize and create a corporation
under Chapter l of Title TX of the
Code of Iowa, and adopt the follow.
ing Articles of Incorporation for the
government of such association:
ARTICLE |.
Name and Place of Business.
The name of the corporation shall
be Farmers Saving Bank" and its |
place of business shall be the city |
of Leighton, County of Mahaska and
State of Iowa.
ARTICLE II.
Business.
The general nature of the business
to be transacted by this corporation
shall be that of savings bank, con-
Quoted under the provisions of Chap,
ter 10 and IL of Title TX of the Code
of Iowa, and acts of the Legislature
amendatory thereof; and this corpora
ton hereby assumes and takes to it.
self all and singular the powers con
ferred upon savings banks by the
laws of Iowa, and accepts all the du
ties and obligations imposed thereby.
-' --r..' ARTICLE. III. ,~,- --- .-.,.--
Capital Stock.
The capital stock of this corpora
ton shall be Ten Thousand Dollars
| $50 900 OO), and shall be divided into
shares OF One Hundred Dollars each,
and shall be fully paid before the
corporation begins the transaction of
| its business.
ARTICLE w.
Duration.
The existence of this corporation
shall begin on the date the Secretary
of State isues his certificate of in
corporation, and shall continue fifty
years thereafter, and the corporation
may commence the transaction of
business when certificate of the
Auditor of State shall have been is
sued authorizing it to do so. Its
corporate existence may be terminal
ed at any time by threefourths vote
of the stockholders at any regular or
special meeting called for that pur-
pose in conformity with the articles
of incorporation and in accordance
with the provisions Of the statute.
ARTiCI E V.
Board Of Directors and officers.
Section l. The affairs of this cor
poration shall be conducted and man.
aged by a board of seven directors,
who shall be elected from the share
holders at the annual meeting of the
corporation, and shall hold office for
the term of one year, and unity their
successors are elected and qualified
and have accepted office.
Section 2. Any vacancy in the
board of directors shall be filled by
the remaining members OF the board,
and the person so appointed shall
hold Office until the next annual meet
! ing of the stockholders.
Section 3. The board of directors
shall elect a president and vice-presi-
dent from its members, and shall also
elect a cashier from the stockholders,
who may or may not be a member OF
the board of directors, and who shall
also act as secretary of the corpora
| ton. 1t may also elect and employ
such other officers and clerks as may
be necessary to the transaction of its
business. and shall fix the compensa-
ton Of all officers and employees.
ARTICLE vi.
Annual and Special Meetings Of the
Stockholders.
Section |. The annual meeting of
the stockholders shall be held at the
office of the corporation on the 3rd
| Tuesday of March each year. begin
ming with the year 1912, at which
time the stockholders shall elect
board of directors and transact such
other business as may lawfully come
before them.
Section q Special meetings of the
stockholders may be called by the
president, vice-president, or by ma
jOrity of the members of the board of
directors, or by the holder or holders
of majority of the stock of the cor
poration. Ten 00) 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 writ.
ing 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 trans
acton of business other than that
named in the notice.
Section 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 foil wing namcd