Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1917-11-22


PIT. 10, Audubon rejected.
On motion Board adjourned to
meet December 10. 1917.
B. ]. Black,
Chairman Board of Supervisors.
-O
ARTICLES OF INCORPORATION
Articles of Incorporation of the
Iowa Savings Bank, of Audubon, Iowa
The persons whose names are SUBJ
scribed hereto, and all other persons
who shall become stockholders of
this corporation, hereby associate
themselves together as a body cor
porate and organize and create a cor
poration under Chapter l Of Title
TX of the Code of Iowa, and adopt
the following Articles of Incorpora-
ton for the government of such as.
ISOLATION:
ARTICLE
Name and Place of Business
The name of the corporation shall
be Iowa Savings Bank" and its place
of business shall be in the City of
Audubon. c unity of Audubon, and
State of Iowa.
ARTICLE II.
Business
The general nature of the business
to be transacted by the corporation
shall be q general banking business
Of savings, conducted under the pr, :
visions Of Chapters 10 and IL of TT
TX of the Code of Iowa and acts
the Legislature amendatory therf
also, to accept and execute any
all trusts not in conflict with {,
laws of the United States or OIL .
State of Iowa, as provided bv -
ter 12-A. Supplement o. :. Code,
1913, and this corp0 "a hereby as
sumes and takes to- itself all and
singular the powers conferred upon
savings banks by the laws of Iowa,
and accepts all the duties and obliga-
lions imposed thereby.
ARTICLE III.
Capital Stock
The capital stock Of this corpora
ton shall be Fifty Thousand Dollars
($50,000), and shall be divided into
shares of one hundred dollars ($100)
each, and shall be fully paid before
the corporation begins the transaction
of its business.
ARTICLE Nv.
Duration
The existence of this corporation
shall begin on the date the Secretary
OF State issues his certificate Of in
corporation, and shall continue fifty
years thereafter; and the corporation
may commence the transaction Of
business when c, 'tificate q the
Auditor of State shall have been is
sued authorizing 1t to do so. Its
corporate existence may be terminal
ed at any time by a three-fourths
vote of the stockholders at any reg
ular or special meeting called for
that purpose, in conformity with the
articles of incorporation and in &C.
corda ce with the provisions of the
statu.
ARTICLE v.
Boa of Directors and Officers
Sect n 1. The affairs of this cor
porati( shall be conducted and man
aged 3. a board of nine directors,
who shall be elect from the share
holders at the AM ual meeting of the
corporation, and shall hold office for
the term of che year. and until their
successors are elected and qualified
and have accepted office.
Section. 2. Any vacancy in the
board Of directors shall be filled by
the remainding members of the
board, and the persons so appointed
shall hold office until the next an
nual meeting of the stockholders.
Section 3. The board of directors
shall elect a president and vice-presi-
elect a cashier. who may or may not
be member of the board Of directors
and who shall also act as secretary
of the corporation. It 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.
and Special Meetings of the
Stockholders.
Section 1. The annual meeting of
the stockholders shall be held at the
office Of the corporation on the
Third Wednesday in December of
each year. beginning with the year
1917, at which time the stockholders
shall elect a board of directors and
transact such other business as may
lawfully come before them.
Section 2. Special meetings Of
the stockholders may be called by
the president. vice-president. or by a
majority Of the members of the board
Of directors, or by. the holder or
holders of majority of the stock Of
the corporation. Ten U0) days
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 writ
ing to each stakeholder. directed to
his address as shown upon the books
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 special meeting, unless all of
the stock Of the corporation shall be
represented and no objection shall
be made by any stakeholder to the
transaction of business other than
that named in the notice.
Section 3. The voting at all
stockholders meetings shall be by
ballot, and each share of stock repre-
sented by the holder thereof. or by
his proxy duly authorized in writing
be entitled to one vote.
ARTICLE VII.
Provisional Directors
Until the first annual meeting of
the stockholders, the following named
persons shall be the directors Of the
corporation:
Niels p. Hoegh. Brayton, Iowa.