The Parker post., 1917-09-15

proxy The holders of the preferred
stock shall be the creditors of the
said Commercial Bank of Parker,
and the holders of the common stock
shall be the stockholders of the said
Commercial Bank of Parker.
The capital stock of this corpora
tion shall be paid in at once and
payment for the preferred stock may
be made by checks drawn on the
| Commercial Bank of Parker for the
amount OF the deposits shown by
the books of the said bank to the
credit of the several depOsitOrS, as
Of the date of the closing of the said
bank. And payment for the com
mon stock may be made by the sur
render, exchange and cancellation
Of the certificates Of stock OF the
Commercial Bank OF Parker by the
holders thereof.
ARTICLE VI.
The time of the commencement Of
this corporation shall be the day up
on which a certified copy Of these
articles of Incorporation from the
Arizona Corporation Commission
shall be recorded with the Recorder
Of Yuma county, state of Arizona,
md a certificate OF incorporation
delivered to said company by the
aid Corporation Commission, and
the termination thereof shall be ten
years thereafter with privilege of
renewal as provided by law.
ARTICLE VII.
The management and control of
he business, property and affairs OF
his corporation shall be vested in a
BOARD of directors, consisting OF five
members, who shall be selected from
among the stockholders of record at
ne regular annual meeting of stock
folders. which said meeting shall be
leld on the first Monday in Septem-
Der of each year, and said directors
hall hold office for one year, or
lntil their successors are elected
md shall have qualified. Four di-
.ectors shall be elected by the hold
RS OF the preferred stock, and one
director shall be elected by the hold
ers of the common stock. Any va
.ancy which may occur in said board
| # directors, whether caused by
Ieath, resignation or otherwise, shall
je filled by the remaining members
If said board from among the stock
folders of record Said board of di-
.ectors shall have power to establish
bylaws, and make any and all rules
md regulations necessary for the
onduct and management Of the af-
airs of the corporation, not incon-
istent with law or with these arti-
les of incorporation.
The board Of directors shall pro-
.ide for the election or appointment
II a president, vice-prestdent, secre-
ary and a treasurer of the corpora
ion. The secretary may or may
lot be "a member of the board Of
tlrectOrs
The board of directors may ap-
Joint some one, or more, persons to
>ct as trustee or trustees to have the
Immediate charge of the assets. of
his corporation and conversion
hereof into cash
| Until the first meeting of stock
folders of record, which shall be
.eld in Parker, Arizona, on the first
Monday OF September, 1917, the fol-
lowing named persons shall consti-
ute the board OF directors of this
corporation, to-wit: ]. r. Raney,
frank Ewing, B B Brown, A H
Littlefeld and c. H Hosfelt
ARTICLE VIII.
The affairs Of this corporation
3hall at all times be under the super
| TisiOn OF the Bank Comptroller of
the state of Arizona, who is hereby
given authority to make examina-
lions OF its books and records and
methods OF doing business, and who
| shall exercise the same authority in
such supervision of this corporation
| ls provided by the laws OF the state
| Of Arizona for the regulation and
| supervision of state banks.
ARTICLE TX.
| The highest amount of indebted
ness or liabilities, direct or contin-
gent, to which this corporation may
at any time subject itself, is the sum
Of twenty-five thousand dollars.
ARTICLE. x
The private property of the Off
| GERS and stockholders Of this cor
poration shall be exempt from all
corporate debts.
! In witness whereof. we have here