Arizona republican., 1912-02-11


 expired term of such director or off, Ger; to have one or more offices and to keep the books and records and seal and hold the meetings of the corpora tion and perform all corporate acts at such places as said board may deter mine and direct: to fix the time for |Jeclaring and paying dividends; to au- thOrize and cause to be executed notes. warrants, and payment of dividends; to authorize notes. bonls, debentures. stipulatiOns. certificates. stock cer-. tificates. an1 agreements. mortgages, deeds, and deeds of trust, liens, con- vcyances, assignments, contracts, powers of attorney. appointments. re cognizances. verificatiOns, aclInOwl- vdgments, justifications. affidavits. and any and all other kinds of ap- pointments of agents. attorneys and employees. and any and all other kinds of instruments in writing whatsoever: and tO sell, assign, transfer. grant, convey. distribute. deliver, or other wise dispose of any or all of the prop crty real or personal of the corpora 1 ton and to acquire in any manner whatsoever any and all kinds Cf prop erty that said board may deem proper and advisable for said corporation: and when so authorized. the same shall be and become the act and deed | of this corporation: to elect the off cerS and employees and appoint all necessary agents. attorneys. servants. employees and laborers of every kind for said corporation and to fiH and ie- fe payment for all services rendered by the corporation for others and the pur- chase price of all property of the cor ToratiOn sold and disposed of: to make. establish. alter, amend. repeal. or rescind all bylaws, rules. regula- ! tons and orders of the corporation. By resolution to appoint two or more "f their number tD constitute an px- ecutive committee which committee shall for the time being. as provided Ly said resolution or in the bylaws, have and exercise all of the powers which may be lawfully delegated to it by said board and resolution in the management of the business and af- fairs of the corporation with power to authorize the seal of the corporation
 
 ments requiring the same. Any vacancy occurring in the board | of directors shall be filled for the un- expired term thereof by an election lheld by the remaining members of the board.
 The officers of this corporation shall be a president. one or more vice presidents. a secretary. one or more assistant secretaries, a treasurer. one 1 CT more assistant treasurers. a cashier. one or more assistant cashiers. an at torney, one or more assistant attOr- neys. an auditor. one or more assistant auditors, and such other officers 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 Monday of Jan uary in each year, and all of whom shall hold office for one year and un- til their successors arc elected anu qualified unless sooner removed by the board of directors. which the said beard is hereby expressly authorized and empowered to lO for any reason it may deem sufficient. all such elec- tions. appointments and removals to be conducted in the manner directed by said board of directors. Provided. that no assistant officer shall be elect ed until said board of directors shall deem such assistant officer necessary Provided. further. that the same per son may. dv direction of the board of directors. hold any two offices not in consistent or in conflict one with the ether.
 All acts. elections. appointments and orders of the board of directors shall be done and performed by a majority vote of the whole board. Any meeting Of said board, with or without notice. at which all directors are present. shall be a regular meeting. A major ity of the actual members of said board shall constitute a quorum for the transaction of business at all meetings of the board.
 ARTICLE VI
 The highest amount Of indebtedness or liability to which this corporation l.; al any time to subject itself or to be subject shall not exceed the sum of six hundred thousand (S6O0. .000.00) dollars.
 ARTICLE VII
 The private property of the stock IOlders 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 prop erty shall be exempt from all corpOr- ate debts wheresOever incurred
 ARTICLE VIII
 The right is hereby reserved to the common stock and the holders thereof tC amend these articles Of incorpOra- ton by a majority vote of said con- mon stock at any legally held stock holders meeting, and it is expressly provided and agreed that in the event the capital stock of this corporation shall hereafter be increased any part of said increased capital stock may be created, designated and made cumu- lative preferred stock to the same eX- tent as the preferred stock mentioned in Article III hereof.
 IN WITNESS WHEREOF. we have hereto set our hands and seals this