Arizona republican., 1912-02-17

fill all vacancies that may occur
either in the Board of directors n
any office or officer of the corpora
ton for the uneXpired term OF such
director 1r officer; To have one or
more offices and To keep the books
and records and seal and hold the
meetings of the corporation and per
form all corporate acts at such places
as said Board may determine and di-
rect; to fix the time for declaring
and paying dividends; 10 authorize
and cause 10 he executed notes, war
rants and payments of dividends to au-
thorize notes. bonds, iebentures. stipu-
lations. certificates of deposit, releases
Of mortgages and other liens. stock GER
tificates. trust certificates and agree
ments. mortgages. deeds, and deeds
Of trust, liens. cOnveyanceS, assign
ments, contracts, powers of attorncE.
appointments. recOgniZances. veriil-
cations. Acknowledgements. justifica-
tons. affidavits, and any and all
other kinds of appointments of agents.
attorneys and employees and 3ny and
all other kinds of instruments in writ
ing whatsoever; and To- SELL assign,
transfer. grant. convey, distribute, de
liver. or otherwise dispose of any
or all Of the property real or per
sOnal of the corporation and 10 ac-
quire in any manner whatsoever any
and all kinds of property that said
Board may deem proper and advis-
able for said corporation; and VIII n
50 authorized the same shall become
and be the voluntary act and deed
OF the corporation; To elect Officers
and employees and appoint all nee
essary agents. attorneys. servants.
employees and laborers Of every kind
for said corporation and TO fix and
determine aud cause to be paid the
compensations for services, rendered
or to be rendered. by the directors.
officers, appOinteeS, attorneys. agents,
servants. and IabOrers of the cOrpOr-
alton; and To fix and determine. de-
mand, collect and receive payment
for all services rendered by the cor
pOration for others and the purchase
price of all property of the corpora
ton sold and disposed Of; to make.
establish. alter. amend. repeal. or re-
scind all bylaws, rules. regulations
and orders of the corporation.
BY resolution to appoint two Dr
more OF their number TO constitute
an executive committee which COM
mitteo shall for the time being. IS
provided by said resolution or in the
bylaws. have and exercise all tho
powers delegated To it by said Board
and said resolution in the manage
ment of the business and affairs IF
the corporation with power To aJ-
th0rize the seal of the corporation 9"
be affixed IL all papers 1r instru-
ments requiring the same.
ANY vacancy occurring in the BOard
of Directors shall he filled for the
unexpired term thereof by an e!ec-
ton held by the remaining members
of the Board
The officers of this corporation
shall be a president, one or more
vice presidents. a secretary, one n
more assistant secretaries. n treas
urer. one or more assistant treaSurerS.
q cashier. one or more assistant cash
i,rs, an attorney, one " more assistant
attorneys. an auditor. one or more
assistant auditors. and such other Of
ficers as the Board of Directors may
from time 10 time determine, direct
and appoint All of said officers
Board of Directors at the annual
meeting of the directors to he held
on the second Wednesday of Jan
uary in each year. and all Of whom
shall hold office for one year and
until their successors are elected and
qualified. unless sooner removed by
the Board Of Directors. which the
said Board is hereby expressly au-
thOrized and empowered To do i0r
any reason il may deem sufficient.
all such elections. appointments and
removals To be conducted in the man
ner directed by the said Board VI
Directors Provided, that no assist
ant officer shall be elected until saii
Board of Directors shall deem such
assistant officer necessary. Provided.
further. that the same person may.
by direction of the Board of Direc-
tors. hold any two offices not incoa-
sistant or in conflict one with the
other.
All acts. elections. appointments AMI
orders of the Board of Directors shall
be done and performed by majority
vote Of the whole Board. Any meet
ing of said Board. with or without
notice. at which all directors are pre-
sent. shall he a regular meeting \
majority of the actual members Of
said Board shall constitute n quorm
for the transaction of business at all
meetings of the Board.
ARTICLE VI
The highest amount of Indebtedness
or liability To which this corporation
is at any time 10 subject itself or 1"
he subject shall not exceed the sum
Of Five Hundred Thousand (S5OO.OOo-
OO) Dollars. exclusive of property
and funds received in any fiduciarN
capacity.
ARTICL VII
The private property Of the stock
holders of this corporation shall be
and is hereby made forever exempt
from all liability for the debts and
obligations of the corporation. and the
stockholders. officers and directors
of the corporation and their private
property shall be exempt from all
corporate debts wheresoever incurred.
IN WITNESS WHEREOF, We have
hereto set our hands and seal this
10th. day of February. 1912.
&. f PETTINGALL tSeap
\. ]. EDWARDS (SeaD
]. l.. OLSEN tSeaD