Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1915-12-01
AMENDED AND SUBSTITUTED
ARTICLES OF INCORPORATE
OF THE DELAWARE COUNTY
AGRICULTURAL SOCIETY,".
ARTICLE 7.

ARTICLE !.
The name of this society shall
be Delaware County Agricultural
Society Its principal place of busi--
ness shall be Manchester, Iowa.
ARTICLE II.
The object of this society shall
be to promote the Improvement of
agriculture, horticulture, mechanics,
and domestic economy by any prop
er means, and to that end shall have
the right to own, hold and control
real estate suitable for the use of
holding OF fairs and agriculture ex-
hibitions, and shall have the right to
held fairs and agricultural exhibit
tons, and to lease it's real estate to
any proper organization for pur--
!poses not inconsistent with the OBJ
lject of this society.
ARTICLE III.
The authorized capital stock OF
this society shall be Ten thousa
dollars ($1O,OOO) divided into one
thousand 10000 shares Of Ten dol
lars $50 par value each.
| ARTICLE w.
+! No dividend ror distribution of
property among the stockholders
shall be made until the final disso-
luton Oh Ine COFpOTdtlOu.
ARTICLE V.
| All persons who shall be the own
ers of one or mere shares Of the
capital stock of the corporation shall
be members of the same and shall
be entitled to one vote by person or
by proxy at all stockholders meet
ings for each share Of stock owned
by them.
| ARTICLE vi.
| The regular annual meeting of the
society shall be held on the second
Tuesday in November of each year
at such place in Manchester, Iowa,
as the board of directors shall de-
termine- Special meetings Of the
society may be called by the presi-
dent or a majority of the board Of
directors at any time by publishing
notice thereof, at least, one week
prior to such meeting in any news
paper published in the county seat
of Delaware County, Iowa.
ARTICLE VII
The affairs of the corporation
shall be conducted by board OF six
directors: At the first election
held under these articles Of incor.-
operation two of such directors shall
be elected for term of one year,
two fer term of two years, and
two for a term of three years, and
thereafter at each annual meeting
two directors shall be chosen for
term of three years. The directors
shall from their number choose a
president, vice-president, and secre-
tary-treasurer, who shall form the
executive committee of the board of
directors. The officers shall perform
such duties as usually devolve upon
such officers and such other duties
as shall be authorized by the board
of directors.
ARTICLE VIII.
All funds derived from the sale
Of the capital stock shall be devoted
to the payment of the debts or the
improvement of the property Of the
corporation.
ARTICLE TX.
| This corporation shall continue for
a period of fifty years from and after
the adoption of these amended ar
ticles of Incorporation, but it may be
sooner dissolved by a three--fourths
vote of all the capital stock that
shall be outstanding.
ARTICLE x.
The private property of the mem
bers and stockholders of the corpora
ton shall be exempt frcm corporate
debts.
| ARTICLE XII.
Upon the dissolution of this COR
poration after the payment of all
the debts of the corporation and
the repayment to the stockholders
of the par value of the shares of
stock held by them, without interest,
dividends or profits, all the balance
and remainder Of the property of
the corporation shall be devoted to
such public, philanthropic, or chari--
table uses or purposes in Delaware
County, Iowa, as the share holders
shall determine, provided. however.
that no part of the property of the
corporation shall be thus devoted to
any UNCONVENTIONAL or sectarian pur.
pose.
ARTICLE XII.
The PRESENCE Of share holders, eth
er in person OF bv proxy, holding
ten per cent of the outstanding CAPT
tai stock of the society Shall be nee
essary to form a quorum tt do bust
ness.
ARTICLE XIII.
These articles of incorporation may
be amended by a majority of votes
of the outstanding stock. 47-2wks