Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1917-12-06


all trusts not in conflict with the
laws of the United States or of the
State of Iowa. as provided by Chap
ter 12-A, Supplement to the Code,
1913, and this corporation 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 Ill
| Capital Stock
The capital stock of this corpora
ton shall be Fifty Thousand Dollars
($5O,O0O), and shall be divided into
shares of one hundred dollars ($10O)
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 a certificate of the
Auditor of State shall have been is
sued authorizing it 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
cordance with the provisions of the
statute.
ARTICLE v.
Board of Directors and Officers
pOration shall be conducted and man
aged by a board of nine directors,
who shall be elected from the share
holders at the annual meeting of the
corporation, and shall hold office for
the term of one 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 remaining members of the
board, and the persons so appointed
shall hold office until the next an
nual meeting of the stockholders.
Section 8. The board Of directors
shall elect president and vice-presi-
dent from its members, and shall also
elect cashier. who 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 it's business, and shall
fix the compensation of all officers
and employees.
ARTICLE VI.
Annual and Special Meetings of the
Stockholders.
| Section /. 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 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-presdent, or by
majority of the members of the board
! of directors, or by the holder or
holders of majority of the stock of
the corporation. Ten G0) days
|
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 g. 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
shall be entitled to one vote.
ARTICLE VII.
Provisional Directors
Until the first annual meeting of
he stockholders, the following named
| persons shall be the directors of the
| corporation:
Niels P. Hoegh, Brayton, Iowa.
| hAt hui oiAuhs-l, huuuUOu, lOWd
c. P. Christensen, Audubon, Iowa
Joe Fl. Ross, Audubon, Iowa.
Geo. M. Ross, Audubon, Iowa.
John c. Jensen, Audubon, Iowa.
F. c. Miller, Audubon, Iowa.
F. L. Taylor, Audubon, Iowa.
B. j. Black, Audubon, Iowa.
| ARTICLE VIII.
Annual Meeting of Board CT Directors
The annual meeting of the board
of directors shall be held on the
| Third Wednesday of December, 1917,
and Immediately following the ad-
journment of the annual meeting
of the stockholders, at which time
1t shall elect president, vice-presi-
dent and cashier, and may elect
or employ such other officers, clerks
or employees as shall be deemed ne
cessary for sthe transaction of the
business of the corporation. Until
the first annual meeting of the
board of directors, the following
named persons shall be the officers
of the corporations:
President, F. c. Miller, Audubon,
Iowa.