The Parker post., 1917-08-11

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,
delivered to said company by the
said 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
the business, property and affairs of
this corporation shall be vested in a
board Of directors, consisting of five
members, who shall be selected from
among the stockholders of record at
the regular annual meeting of stock
held on the first Monday in Septem-
ber of each year, and said directors
shall hold Office for one year, or
until their successors are elected
and shall have qualified. Four di-
rectors shall be elected by the hold
ers of the preferred stock, and one
director shall be elected by the hold
ers of the common stock Any va
cancy which may occur in said board
of directors, whether caused by
death, resignation or otherwise, shall
be filled by the remaining members
Of said board from among the stock
holders of record. Said board of di-
rectors shall have power to establish
bylaws, and make any and all rules
and regulations necessary for the
conduct and management of the af-
fairs of the corporation, not incon-
sistent with law or with these arti-
cles of incorporation.
The board of directors shall pro-
vide for the election or appointment
of a president, vice-president, secre-
tary and treasurer of the corpora
ton. The secretary may or may
not be member of the board of
directors.
The board of directors may ap-
point some one, or more, persons to
act as trustee or trustees to have the
immediate charge of the assets Of
this corporation and conversion
thereof into cash.
Until the first meeting of stock
holders of record, which shall be
held in Parker, Arizona, on the first
Monday Of September, 1917, the fol-
lowing named persons shall consti-
tute the board Of directors of this
corporation, to-wit: J. F. Raney,
Frank Ewing, B. B. Brown, A. H.
Littlefield and G. H. Hosfelt.
ARTICLE VIII.
The affairs of this corporation
shall at all times be under the super
vision of the Bank Comptroller of
the state of Arizona, who is hereby
given authority to make examina
tions of its books and records and
methods of doing business, and who
shall exercise the same authority In
such supervision of this corporation
as 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 hora-