Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1913-03-27

| TRANSACTION or business when certificate
of the Auditor of State shall have been
issued authorizing it to do so. It's cor.
porate existence may be terminated at
any time by three-fourths vote of the
stockholders at any regular or special
meeting called for that purpose, in con-
fOrmity with the articles of incorpora-
ton and in accordance with the pro-
visions of the statute.
ARTICLE V.
SECTION /. The affairs of this cor
poration shall be conducted and mana
ged by board of Seven directors, who
shall be elected from the shareholders
at the annual meeting of the corpora
ton, and shall hold office for the term
of one year, and until their successors
are elected and qualified and have ac-
copied office.
SECTION 2. ANY vacancy in the
board of directors shall be filled by the
remaining members of the board, and
the persons so appointed shall hold Office
until the next annual meeting of the
stockholders.
SECTION 3. The board of directors
shall elect a president and vice president
from its members, and shall also elect a
cashier from the stockholders, who may
or may not be member of the board
of directors, and who shall also act as
secretary of the corporation. 1t may also
elect and employ such other officers and
clerks as may be necessary to the tran
saCtion of its business. and shall fix the
compensation of all officers and employees.
ARTICLE vi.
SECTION l. The annual meeting of
the stockholders shall be held at the
office of the corporation on the Second
Monday in January of each year, be-
ginning with the year 1914, at which
time the stockholders shall elect board
of directors and transact such other
business as may lawfully come before
them.
SECTION 2. Special meetings of the
stockholders may be called by the pres
ident, ice-president, or by a majority
Of the members of the board of directors,
or by the holder or holders of O majority
of the stock of the corporation. Ten Q0)
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 a
notice in writing to each stockholder,
directed to his address as shown upon
the books of the corporation, which
notice shall state the object of the meet
ing, 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 tran
lnn nf hYr0 NAn. kl1n%
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.
Until the first annual meeting of the
stockholders, the following named per-
sons shall be the directors of the cor
poration:
p. Nelson ----H amlin, Iowa
James W. Hood Extra, Iowa, R. 5
Nels Rattenberg -Hamlin, Iowa, r.
Peter r. Nilsson 1900 Hamlin, Iowa, r.
lldUS NlOl IOWA
ARTICLE VIII.
The annual meeting of the board of
directors shall be held on the-day
Oft, 10, and Immediately follow
ing the adjournment of the annual meet
ing of the stockholders, at which time it
shall elect president, vice-president and
cashier, and may elect or employ such OF,
her officers, clerks or employees as shall
be deemed necessary for the transaction
of the business of the corporation. Until
the first annual meeting of the board of
directors, the following named persons
shall be the officers of the corporation.
President, FL. G.. Rice, Audubon, Iowa
Vice President, P. Nelson, Hamlin, Iowa
Cashier, Lars G. Christoffersen,
REORGANIZATION, Iowa
ARTICLE TX.
SECTION /. All deeds mortgages and
instruments in writing affecting real
estate which shall be made by the cor.
poration, shall be executed and acknow-
lodged in the name of the corporation
by the president or vice-president, and
attested by the cashier, with the cor
porate seal thereto affixed.
SECTION 2. Releases of mortgages
and other liens held by the corporation,
and satisfaction thereof, may be made,
executed and acknowledged by the
president, vice-president or cashier of
the bank.
SECTION 3. All other written instru-
ments which may be made by the cor
poration shall be executed by such
officers or agents as the bylaws may
designate.
ARTICLE X.
SECTION 1. The shares of stock of
the corporation shall be issued only up
on full payment of the sums represented
by them, and shall be transferable only
by assignment upon the books of the
corporation.
SECTION 2. The certificates of stock
issued to the shareholders shall be sign
ed by the president or president,
and attested by the cashier, and have
the corporate seal affixed thereto.
ARTICLE XI.
This corporation shall not contract or
incur any debt or liability, except for
deposits, and the necessary expenses of
managing and transacting its business,
and obligations incurred for the purpose
e II 10. Al -