Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1914-07-29

dlvidual or natural person.
O To lend money for itself or as
agent, on notes or bonds secured by
mortgages on real estate or upon
personal property, or to lend money
and make advances from time to
time on bonds secured by mortgages
Tor future advances on real estate or
upon personal property. Out not to
do any business under Chapter VIII
of Title of the Civil Code. r. S.
! Arizona, 1879
tg) To purchase, acquire, flold
sell, assign, transfer, mortgage,
Eieoge. exchange, or otherwise dis
pose of, in the ordinary course of
business (but not to sell or offer for
sale under Chapter TX of Title of
the Civil Code, r. S. Ariz, 1919,
shares of the capital stock of any
other corporation or corporations
created under the laws of this state,
or of any other state or country,
end to exercise while the owner of
such stock all the rights, powers and
privilege, including the right to vote
thereon, which natural persons, being
the owners of such stock. might,
could or would exercise, and to issue
In exchange therefor its own stock,
bonds and other obligations.
(h) To acquire, complete or dis
pose of contracts or agreements re-
lating to or connected with the ac-
curing, buying. selling, leasing. let
ting. disposing of or mortgaging real
estate or buildings and improvements
it, Ton,
ana make, either as principal or
broker or agent, contracts o. other
agreements relating to the making,
taking or placing Of building and
other loans in connection with real
estate, and with improvements there
, on or to be placed thereon
O To do and transact all acts,
business and things incident to, or
relating to. or convenient in, the
. above things, as principals, agents or
contractors, and by or through
agents, and either alone or in con-
: junction with others.
Cd To do and perform any or all
of the aforesaid acts and things and
r transact any or all of the aforesaid
businesses objects, or purposes in
any part of the world where the
. same may be lawfully transacted as
2 fully and freely, and with like effect
as the same may or might be done
or transacted by a natural person.
:, ARTICLE III.
Y The amount of the capital stock
r authorized is four hundred thousand
(s40O,0O0) Dollars, all of which shall
r be common stock. All shares shall
t be of the par value of one hundred
e (s10O.OO) Dollars each.
At least two hundred and fifty
t (250) shares of the total par value of
t twenty-five thousand (s25,OOO) Dol
r lars shall be paid in before the com
: mencement of business and the re-
0 nainder may be paid in and the
y certificates therefor issued at any
time or times thereafter in the dis
: erection of the directors and any of
: said capital stock may be issued in
exchange for any property. contract.
t cash o. services worth the par value
d of the stock so issued; and the judg-
/. ment of the directors or a majority
s thereof as to the value of any pro-
d perty, contract, or service received by
5, the corporation in payment for any
r such stock, shall, in the absence of
(, actual fraud, be conclusive.
<, ARTICLE ".
# The time of the commencement of
= the corporation shall be the date of
:. the receipt of its license to do bust
e ness from the Arizona Corporation
d Commission and the date Of it's ter
= mination shall be twenty five years
V thereafter.
|, ARTICLE V
: The officers by whom the affairs
e of the corporation are to be conduct
e ed shall be a Board of not less than
II three nor more than seven directors
d The directors shall choose a presl .
: dent, vice president, secretary and
} treasurer, and such other officers or
II agents as the Bylaws may prescribe.
= The president and vice president
IS shall be members of the Board of
S, Directors. Any two offices except
: president and vice president may be
If filled by one and the same person.
Y majority of the directors in office
o shall constitute a quorum.
The Board of Directors may create
II from its own number an Executive
IL Committee to consist of two or more
of the Directors. Such executive
: committee shall have, when the
If Board is not in session. all the
a rowers of the Board of Directors
q All directors shall be elected by the
: stockholders at the annual meeting
!, which shall be held at the offices of
!. the corporation in the City of Phoe-
G nix aforesaid, on the second Monday
If in July in each and every year at
10 two o'clock P. NJ. But vacancies aris-
n ing or created by or from any cause,
; including failure of the stockholders
&c to elect the full number, may be fill
"A ed by the remaining director or di-
10 rectOrs in office, though less than a
y, quorum. All directors shall hold Of
10 flee until the next annual meeting
"a and until their successors are elected
"A and qualified.
70 ARTICLE VI
# The highest amount of indebted .
J. ness to which the corporation may
10 at any time subject itself is two
J. hundred and sixty six thousand six
,r hundred and sixty six (s266, $500
10 Dollars.
J. ARTICLE VII.
The private property of stockhold-
,l,rh