Cresco plain dealer. (Cresco, Howard County, Iowa) 1913-1945, 1916-06-09
Articles Of Incorporation Of the Farm
ers' Creamery Company.
ARTICLE |.

rights and privileges granted by the laws o.
| the state of Iowa and by these articles.
! ARTICLE II.
! The object Of this corporation is to estab
| lish and maintain creamery for the manu-
iacture OF dairy products and the buying
and selling of dairy and other farm pro-
ducts, and doing anything necessary and
incidental to and connected with such bust.
ness including the renting, buying and sell.
ing OF personal property or real estate,
necessary for the conducting Of such bust
ness.
| ARTICLE III.
Inc name Of the corporation shall be the
FARMERS CREAMERY COMPANY and
Its principal place of business shall be
Cresco, Howard County, Iowa.
ARTICLEIV.
Each stockhclder shall be entitled to one
vote on all matters that may come before
be INCORPORATION. No additional vote shall
| number Of shares.
ARTICLE V.
The ca pital stock of this cor poration shall
not exceed the sum of sl5.OOO.OO and shall be
raised in shares of two dollars each, which
STOCK shall not be transferable except to
farmers. Such transfers Of stock must have
the approval OF a majority of the Board of
Directors and all such transfers and approx
ais entered upon the Secretary's books.
ARTICLEVI.
This corporation shall commence business
on the LIST day of May, 1916, and shall con-
tinue for twenty years with right of renewal
hlfn hc.
OF stockholders present at any annual or
special meeting called for that purpose.
ARTICLE VII.
The private property OF the stockholders
shall be exempt from liability for1he debts
OF the corporation.
ARTICLE VIII.
The highest amount of Indebtedness for
which this corporation, al any time, shall be
liable shall not exceed two-,hrds ofits cap
ital stock. 1t being understood that milk or
cream furnished for manufacture shall not
constitute an Indebtedness but shall be prop
erty held for manufacture, the proceeds of
which. less expenses, shall belong to the
patrons.
ARTICLE IN.
The officers of this corporation shall con-
sist of President ice-President, Secretary,
Treasurer and Five Directors and said
officers shall constitute the goard of Direct
ors and five of them shall constitute a
quorum for the transaction of business.
ARTICLE \.
1t shall be the duty of the President to
and Board of Directors.
ARTICLE nj.
II shall be the duty of the Secretary to
Keep record of all proceedings of the cor
poration. to draw and sign all checks or
drafts for money to be paid by the Treas
urer, and perform such other duties as the
Board of Directors may require him to per-
form.
ARTICLE Mi.
1t shall be the duty Of the Treasurer to re-
ceive all money belonging to the corpora
ton and pay all checks and drafts on him
for money signed by the Secretary and
make report of the financial condition Of
the corporation AT e,ch annual meeting;
also make such report at any special meet
ing when called for by majority Of the
Board OF Directors and he shall give bonds
In such sum and with sureties as meet the
approval of the Board of Directors.
ARTICLE NIL.
The President shall have the power to call
special meetings Of the stock holders at such
times as he deems advisable, and upon writ
ten request of five members IL shall be his
duty to call special meeting, which special
meeting shall be called by publishing notice
thereof in the local pa pers, therein deslgnat-
Ing the date of said meeting thereof, to be
not less than three days after the date Of
ARTICLE XIV.
The Board of Directors shall have general
management and supervision of the bust !
ness and affairs of the corporation and shall
meet as often as the interest ofthe corpora.
ton may require. Due notice Of special
meetings OF the Board OF Directors to be
given by the President or Secretary. The
30 .rd OF Directors Ehall act for and in the |
name of the corporation and all acts and
orders OF the Board of Directors, under the
power delegated to them by these articles,
shall have like force and effect as though |
they were the acts and orders of the major |
iy OF the corporation at any meeting, and
said Board of Directors shall have power to
the management Of the affairs ofthe corpor ,
alton. subject to the modification by the cor
poration at any annual or special meeting.
ARTICLE XIV.
The annual meeting Of the corporal
shall be held on the first Saturday in Feb
'uary in each year when officers shall be
elected by ballot for ensuing year.
ARTICLE XVI.
All designations of officers shall be made to
he President or Secretary and all vacancies
occurring by resignation or otherwise shall
De filled by appointment by Board of Direct
'rs until the same is filled by the rpora-
ion At any annual or special meeting.
ARTICLE XVII.
The Board of Directors may allow others
han stock holders to become patrons of the
reamery upon such terms and conditions as
nay be deemed advisable, subject to proper
in favor of stockholders of