Cresco plain dealer. (Cresco, Howard County, Iowa) 1913-1945, 1916-06-16
Articles Of Incorporation Of the Farm
ers' Creamery Company.
ARTICJ T.

|
We, the undersigned do hereby incorpor
ate ourselves and our associate stockholders
into body corporate with all the powers,
| rights and privileges granted by the laws Of
the State of Iowa and by these articles.
ARTICLE II.
The object Of this corporation is to estab-
! lish and maintain a creamery for the manu-
| facture 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 bus-
ness, Including the renting, buying and sell.
Ing of personal property or real estate
necessary for the conducting Of such bust
ness.
ARTICLE III.
The name of the corporation shall be the
FARMERS CREAMERY COMPANY" and
its principal place of business shall be
Cresco, Howard County, Iowa
ARTICLEIV.
Each stakeholder shall be entitled to one
vote on all matters that may come before
be the!cor poration. No additional vote shall
cast on account Of his having an additional
mber ofshares.
ARTICLE V.
The apital stock of this cor pora,ion shall
not exceed the sum of sl5OOO.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.
ARTICLE VI.
| This corporation shall commence business
on the LIST day of May, 1916, and shall con-
tinue for twenty years with right ofrenewal
but may be dissolved by threefourths vote
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 for the debts
F, of tn corporation.
ARTICLE VIII.
The highest amount of Indebtedness for
which this corporation, at any time, shall be
liable, shall not exceed two-thirds Gifts cap
ital stock. 1t being understood that milk or
| cream furnished for manufacture shall not
constitute an indie btedness 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 a President, Nice-Presdent, Secretary,
Treasurer and Five Directors and said
officers shall constitute the Roard ofDirect-
ors and five of them shall constitute a
quorum for the transaction of business.
ARTICLE. y.
1t shall be the duty of the President TO
preside at all meetings of the corporation
and Board of Directors.
ARTICLE Nj.
1t shall be the duty of the Secretary to
keep arecord of all proceedings Of the cor
poraton, 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 XII.
IL shall be the duty of the Treasurer to re-
ceve all money belonging to the corpora
tion and pay all checks and drafts on him
for money signed by the Secretary and
make a report of the financial condition Of
the corporation at each 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 suretes as meet the
approval OF the Board Of Directors.
ARTICLE XIII.
The President shall have the power 10 call
special meetings of the stockholders 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
in the local papers, therein designat-
ing the date of said meeting thereof. TO be
not less than three days after the date of
publication.
ARTICLE XIV.
The Board of Directors sha have general
, management and SUPERVISION of the bust
| ness and affairs of the cor poration and shall
meet as often as the interest OF the cor POI a.
ton may require. Due notice of special
meetings Of the Board OF Directors to be
given by the President or Secretary The
30 Td Of Directors shall 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 ofthe major
ity Of the corporation at any meeting, and
said Board of Directors shall have power to
| make bylaws and regu ations concerning
the management of the affairs ofthe corpor-
alton. subject to the modification by the cor
por alton at any annual or special meeting.
ARTICLE Nv.
The annual meeting of the cor por alton
sha II be held on the first Saturday In Feb
ruary in each year when officers shall be
elected by ballot for ensuing year.
ARTICLE XVI.
Allresignations Of officers shall be made TO
the President or Secretary and all vacancies
| occurring by resignation or otherwise shall
be II lied by appointment by Board Of Direct
ors until the same is filled by tie corpora
lion unlnal nr snelial MeetiCg.