The Denison review. [volume] (Denison, Iowa) 1867-current, 1916-07-05

and adopt the following Articles of In
corporation for the government OF such
ARTICLE l.
Name and Place of Business.
The name Of the corporation shall be
Farmers and Merchants Savings Bank,
ana it's place of business shall be in the
city of Boyer county Of Crawford, and
$50 u ARTICLE II.
.u-t Business
The general nature of the business to
be transacted by this corporation shall
be that of Savings bank, conducted UNI
der the provisions of Chapters ~ and IL
of Title TX of the Code of Iowa and
acts of the legislature amendatory there
to; and this corporation hereby assumes
and takes to itself all and singular the
powers conferred upon savings banks by
the laws of Iowa, and accepts all the
duties and obligations imposed thereby.
--.at r ARTICLE ILL., ,.,,
- Capital Stock.
The capital stock of this corporation
shall be TEN Thousand Dollars (S1O,-
600. 00), and shal lbe divided into shares
of one hundred dollars ($100 each, and
shall be fully paid before the corpora
ton begins the transaction of it's bust
ness. 'uE
1871 ARTICLE ~.
.....- BE. ..5t... r.. Duration. ..
The existence Of this corporation shall
begin on the date the secretary or state
issues his certificate of incorporation.
and shall continue twenty years there
after; and the corporation may com
nience the transaction of business when
a certificate of the auditor of state shall
have been issued authorizing it to do SO.
It's corporate existence may be terminal
ed at any time by three-fourths vote
of the stock holders at any regular or
special meeting called for that purpose,
in conformity with the articles of incor-
poration and in accordance with the pro-
visions Of the statute.
ARTICLE V.
Board of Directors and Officers.
Section l. The affairs of this cor
poration shall be conducted and man
aged by board of five 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 ac-
cepted Office
Sec 2. Any vacancy in the board of
directors shall be filled by the remain
ing members of the board. and the per-
sons SO, appointed shall hold Office UNI
til the next annual meeting of the stock
holders. sAi1 49, 1"E
Sec. 3. The board Of directors shall
elect a president and vice-presfdent from
its mem bers, and shall also elect cash
ier,@Whoi 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 transaction&Of its business, and
shall fix the compensation Of all officers
and employees. ~
. ARTICLE vi. 49,.
Annual and Special Meetings, Of the
Stockholders.
3 Section l. The annual meeting of the
stockholders shall be held at the office
of the corporation on the second Tues
day in January of each year, beginning
a.,
stockholders shall elect board of di-
rectors and transact such other business
as may lawfully come before them.
Sec. g. Special meetings of the
ident, vice president. or by majority
Of the members of the board of directors,
or by the holder or holders of major
ity Of the stock of the corporation. Ten
GO) days'i, 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
of the corporation. which notice shall
state the object of the meeting, and no
business other than that named in the
notice shall be transacted at such. .spe.
cial meeting, unless all of the stock sof
the corporation shall be represented and
no objection shall be made by any stock
other thansthat named in the notice tf
-. Sec. So The voting Mt all stock
holders meetings shall be by ballot. and
each share. ,Of stock representa- by the
holder thereof, or by his proxy duly
authorized I'm writing shall be entitled
ARTICLE VII. ..ei1s
'N-'|'fs&t Provisional Directors: Al; Z
Until the first annual meeting Of the
stockholders, the following named per
sons shall be the directors of the Cor
poration: stssT
J. Dozark, Rt 1, Vail, Iowa. (3s
II. b. Hansen, Rt l, Boyer, Iowa. H.
c. S. johnson, Boyer. Iowa. #'t#5&
Geo. W. Newcom, Boyer Iowa.