Arizona republican., 1912-02-20

poIhllnent as the case may require. m all vacancies that may occur either in the Board of directors 1r any office or officer of the corpcra- ton Tor the uneXpired term of such director or 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: to authorize and cause tO be executed notes. war rants and payments of dividends to au- thOrize notes. bonds, debentures, stipu- l@tlonS. certificates of deposit. releases "t mortgages and other liens, stock cer- tliicates, trust certificates and agree mentS, mortgages, deeds. and deeds or trust, liens, cOnveyances, assign hehts, contracts, powers of attorney appointments. recOgniZances. verifi- cations, acknowledgements, justifica- tons. affIdavitS, and any and all other kinds of appointments of agents, attorneys and employees and any and all other kinds of instruments in writ ing whatsoever; and to sell. assign. transfer. grant. convey. distribute, de- IiNer. or otherwise dispose of any or all of the property real or per sonal of the corporation and to dc- quire in any manner whatsoever any and all kinds of property that said Board may deem proper and advis- able for said corporation: and wh-n so authorized the same shall become and be the voluntary act and decd 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 and 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- atiOn; 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 tiOn 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 or lii'lt OA llltlF lUiiluf'I lO CbllSlilu-t an executive committee which com mittee shall for the time being, as provided by said resolution or in the bylaws, have and exercise all the 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 aU- thorize the seal of the corporation tp be affixed to all papers or instru- ments requiring the same.
 Any vacancy occurring in the Board of Directors shall he filled for the unexpired term thereof by an cleo tion held by the remaining members of the Board
 The officers of this corporation shall be e president. one or more vice presidents. a secretary, one or more assistant nt-SeCretarieS, a treas urer. one or more assistant -treasurers. a cashier. one or more assistant cash iVrs, an attorney, one Jr more assistant attorneys. an auditor. one or more assistant t-auditors. and such other nf- ficers as the Board of Directors may from time to time determine, direct and appoint All of said officers shall be elected or appointed by the Board of Directors at the annual meeting of the directors to be 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 for any reason it may deem sufficient. all such elections. appointments and removals to be conducted in the man. ner directed by the said Board If Directors. Provided, that no assist ant officer shall be elected until said Board of Directors shall deem such assistant officer necessary. Provided, further that the same person may. bv direction of the Board of Dire"- tors. hold any two offices not incOu- sistant or in conflict one with the other
 All acts. elections. appointments an1 orders of the Board of Directors shall be done and performed by a majority vote of the whole Board. Any meet ing of said Board, with or without notice. at which all directors are pre- sent. shall be a regular meeting A majority of the actual members Of said Board shall constitute a quorm for the transaction of business at all meetings of the Board.
 ARTICLE VT.
 The highest amount of indebtedness or liability to which this corporation is at any time to subject itself or to be subject shall not exceed the sum of Five Hundred Thousand (s500.000. GO) Dollars. exclusive of property and funds received in any fiduciary capacity.
 ARTICL 1I1.
 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.