Cresco plain dealer. (Cresco, Howard County, Iowa) 1913-1945, 1916-06-30
Articles Of Incorporation Of the Farm.
eTs' Creamery Company.


We, the undersigned, do hereby fncorpor
ate ourselves and our associate stockholders
into body corporate with all the powers,
rights and privileges granted b1the laws OF
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-
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 busi-
ness, including the renting buy ing 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 stoc kholder shall be entitled to one
vote on all matters that may come before
be INCORPORATION. No additional vote shall
cast on account of his having an additional
mum Der of shares.
ARTICLE V.
The capital stock Of this corporation shall
not exceed the sum Of Sl5,0O0.00 and shall be
raised in shares of two dollars each, which
stock shall not be transferable except to
farmers. Such transfers ofstock must have
the approval of majority of the Board OF
Directors and all such transfers and APPROX
ais entered upon the Secretarys books.
ARTICLE vi.
This corporation shall commence business
| on the LIST day of May, 1916, and shall con-
| tinue for twenty years with right Of renewal
but may be dissolved by three-fourths vote
of stockholders present at any annual or
special meeting called for that purpose.
ARTICLE VII.
shall be exempt from liza bility for the debts
of TIL 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 Indebtedness but shall be prop.
erty held for manufacture, the proceeds OF
which, less xpenses, shall belong to the
patrons.
ARTICLE IN.
The officers of this corporation shall con-
sst of q President, Nice-President, Secretary,
Treasurer and Five Directors and said
officers shall constitute the Board of Direct
ors and five of them shall constitute a
quorum for the transaction of business.
ARTICLF.X.
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 a 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 ofthe Treasurer TO re-
celve all money belonging to the corpora
ton 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 sureties as meet the
approval Of the Board of Directors.
ARTICLE NIL.
The President shall have the power TO call
special meetings of the stockholders at such
times as he deems advisable, and upon writ
toy IF
duty to call special meeting, which special
meeting shall be called by publishing notice
thereof in the local pa pers, 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 i have general
management and supervision OF the bust
ness and affairs Of the corporation and shall
meet as often as the interest of the corpora.
ton may require. Due notice of special
meetings OF the Board OF Directors to be
given by the President or Secretary The
Bo ,rd 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. atoms concerning
the management of the affairs ofthe corpor-
alton. subject TO the modification by the cor
poration at any annual or special meeting.
ARTICLE
The annual meeting OF the corporation
shall be held on the first Saturday in Feb
ruary in each year when officers shall be
elected by ballot for ensuing year.
ARTICLE WI.
All designations of officers shall be made to
the President or Secretary and all vacancies
occurring by resignation or otherwise shall
be filled by appointment by Board of Direct
ors until the same is filled by tie corpora
ton at any annual or special meeting
ARTICLE XVlI.
The Board Of Directors may allow others
than stockholders to become patrons of the