Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1913-03-06
ARTICLES OF INCORPORATION
OF The Farmers Savings Bank. Of
Hamlin, Iowa.
ARTICLE |,


ARTICLE l.
The name of the corporation shall be
Farmers Savings Bank, and its place
of business shall be in the City of Ham
lin, County of Audubon, and State of
Iowa.
ARTICLE II.
The general nature of the business to
be transacted by this corporation shall
be that of a savings bank, conducted
under the provisions of Chapters 10 and
12 of Title TX of the Code of Iowa and
acts of the legislature amendatory
thereof; and this corporation hereby
assumes and takes to itself all and sim
gular the powers conferred upon savings
banks by the laws of Iowa, and accepts
all the duties and obligations imposed
thereby.
ARTICLE III.
The capital stock of this corporation
shall be Ten Thousand Dollars
($1O, 900. OO), and shall be divided into
shares of one hundred dollars (S100) each,
and shall be fully paid before the cor
poration begins the transaction of its
business.
ARTICLE ".
The existence of this corporation shall
begin on the date the Secretary of State
issues his certificate of incorporation,
and shall continue Fifty years thereafter;
and the corporation may commence the
transaction of business when certificate
of the Auditor of State shall have been
issued authorizing it to do so. Its 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 1. 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 &C.
copied Office.
SECTION 2. Any vacancy in the
board of directors shall. be filled by the
remaining members of the board, and
the persons 80 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, vice-president, or by a majority
of the members of the board of directors,
or by the holder or holders of 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 stakeholder,
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
saction of business other than that
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:
Fl. G. Rice Audubon, Iowa
P. Nelson Hamlin. Iowa