The Parker post., 1917-09-08


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
| 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,
and a certificate Of incorporation
| 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
he 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
he regular annual meeting Of stock
holders, which said meeting shall be
leld on the first Monday in Septem-
ber of each year, and said directors
hall hold office for one year, or
until their successors are elected
md shall have qualified. Four d.
rectors shall be elected by the hold
rs of the preferred stock, and one
lirector shall be elected by the hold
ers of the common stock. Any va
ancy which may occur in said board
# directors, whether caused by
leath resignation or otherwise, shall
,e filled by the remaining members
iolders of record Said board Of di-
tectors shall have power to establish
bylaws, and make any and all rules
nd 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
# a president, v1ce-president, secre-
airy and a treasurer Of the corpora
ion. The secretary may OF may
lot be a member of the board of
directors.
The board of directors may ap-
,Oint 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
lolders Of record, which shall be
,eld in Parker, Arizona, ON the first
Monday of September, 1917, the fol-
owing named persons shall consti-
ute the board of directors Of this
corporation, to-wit: j. F. Raney,
rank Ewing, B. B. Brown, A. H.
Littlefield and G. Fl. Hosfelt.
ARTICLE VIII.
| The affairs of this corporation
hall at all times be under the super
Vision of the Bank Comptroller Of
he state Of Arizona, who Is hereby
given authority to make examina-
lions of it's books and records and
methods Of doing business, and who
hall exercise the same authority In
such supervision Of this corporation
Is 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