The copper era and Morenci leader., 1913-03-28
ARTICLES OF INCORPORATION OF THE DUNCAN BUILDING
 ASSOCIATION.


 PRESENTS, that we, the undersign- ed, B. F. Billingsley, J. H. Briley, w. F. Willis, John Evans, w. M. Clark, B. R. Lanneau, and J. R. Fowler, of Duncan, Greenlee Ceunty,- State of Arizona, have this day associated our selves together for the purpose of forming a corporation under the laws of the State of Arizona, and for that purpose do adopt the following arti- cles of incorporation.
 i.
 The name of this corporation shall be, Duncan Building Association. Its principal place of business shall be at the town of Duncan, Greenlee County, State of Arizona.
 The general nature of the business in which this corporation shall en- gage is as follows: The purchase, owning, holding and sale of real es- state, the purchase and sale of build ings, the erection of dwelling houses, business houses, the owning, holding and renting of halls, buildings and business blocks of all kinds and char acters whatsoever; the manufacture and sale of building stone, brick and cement blocks and engaging in any and all kinds of business thata natural person could or would in any part Of the United States or the World. The amount of Capital Stock of this corporation shall be Ten Thousand l ($1O,OO. .O0) dollars, divided into two thousand shares of the par value of Five Dollars each and such capital stock shall be paid up at the date of issuance or at such time or times as | ho 0f in money, prope'sy, labor or any oth' CT valuable thing or right; and in the absence of fraud, the judgment of the Board of Directors as to the value of property, labor, or other valuable thing or right taken in exchange for stock. shall be conclusive.
 w.
 The affairs of this corporation shall be conducted by Board of not less | than three nor more than eleven Dl rectors as may be prescribed by the Bylaws and the following named per sons shall constitute the Board of Directors until their successors are elected: B. F. Blilingsley, J H. Bri ley, w F. Willis, John Evans, w. M Clark, B. R. Lanneau and J. R. Fow Ter, of Duncan, Greenlee County State of Arizona.
 The Board of Directors herein be fore named shall have power to adopt bylaws for the government of this corporation and this or any subSe quent board shall have the power to modify or amend said bylaws. The bylaws of this corporation may be amended at the annual meeting ot stockholders and any amendment made at the annual meeting of the stockholders may not be abrogated c1 changed by the Board of Directors but only in Stockholders meetings The first meeting of the Stockholders shall be held at Duncan, Greenlee County, State of Arizona, on the sec ond Monday in January, 1914. The Board of Directors subsequent to the present board of Directors named here in shall be elected from among the Stockholders at the annual stock holders meeting.
 The highest amount of liability that this corporation shall subject it self to at any time shall not exceed Three Thousand (S3,OO0 .0O) Dollars
 VI.
 This corporation shall endure fol the period of twenty-five years iron the date on which this corporation shall have compiled with all the pro visions and requirements of SectioI nine of Chapter forty-nine of the Ses sion Laws of the First Session of the Legislature of the State of Arizona for the year 1912.
 VII.
 The private property of the stock holders of this corporation shall bt and is hereby made exempt from al liability for corporate debts or corpor ate obligations.
 VIII.
 The capital stock of this corporation shall be and is hereby made non-as sessable for any purpose whatsoever
 In witness whereof we have hereb! set our hands and seal this 24th day O January, 1913.
 B. F. BILLINGSLEY,
 J. H. BRILEY,
 w. F. WILLIS,
 JOHN EVANS,
 w. M. CLARK, B. R. LANNEAU,
 J. R. FOWLER.