The border vidette., 1919-09-27

in the State of Arizona or in any other | State or Territory in the United States or Foreign Countries. ARTICLE , The authorized amount of the capital stock of thls corporation shall be one hundred thousand dollars (SIOO 900 OO) divided into one thousand shares of the par value of one hundred dollars (S100 00) each. The amount of said carital stock shall be paid into the treasury of this corporation at such times the Board of Directors shall direct, either in cash or by the sale and transfer to the corporation of real or personal property, contracts. ser vices or any other valuable things for the use and benefits of the corporation in payment for which shares of the capital stock so issued shall thereupon and thereby become and be fully paid and non as5essa b1e; and in the absence of actual fraud the judgment of the Board of Directors as to the value of the property, contracts or services so purchased, or rendered, shall be con- elusive.
 ARTICLE
 The time of commencement of this corporation shall be at the date of the issuance to it by the Arizona Corpora ton Commission of a Certificate of h. corporation and the corporation shall endure for a period of twenty five years (25) thereafter with the privilege of renewal, as provided by law.
 ARTICLE
 The affairs of this corporation shall be conducted by a Board of Directors to consist of not less than three nor more than five directors, who shall be elected by the stock holders on the. first Monday of June of each year at two o'clock p. m. except the first board Of directors herein provided for, who shall hold their offices until their successors are elected and qualified.
 J. L. Schleimer, A. I. Schleimer and Leslie c. Hardy shall constitute the first Board of Directors of this corporation.
 ARTICLE 8
 The officers of this corporation shall be president, vice-president and cept the first, be appointed by the Board of Directors. The offices of Secretary.and Treasurer may be con- solidated and held by the same direc- tor. The officers of the corporation may or may not be mem Der of the Board of Directors. Additional offices may be created by the Board of Di- rectors and when so created shall be filled and vacancies therein supplied by the Board of Directors. The following shall constitute the first officers of the Board of Directors: J. l.. Schleimer, President; Leslie c Hardy, Vice-Pres-. ident; A. I. Schleimer, Secretary Treasurer.
 ARTICLE 9
 By-laws for this corporation shall be adopted and may be amended or re. vised by the Board of Directors until or unless otherwise provided by reso- lution of the stockholders.
 ARTICLE 10
 The highest amount of indebtedness, direct or contingent, to which this cor poration shall be subject at any time shall be sixty-six thousand six hundred stxty-six and sixty-six one hundredths ($6G. 666 66) dollars.
 ARTICLE II
 Leslie c. Hardy of Nogales, Santa Cruz County, Arizona, who has been a bona fide resident of the State of Ari- zona for at least three years, is hereby appointed the.lawful agent of this cor poration, for and in behalf of this cor poration to accept and acknowlede ser- vice and upon whom may be served all necessary process or processes in any action. suit or proceedings that may be brought against this corporation in any of the courts of the State of Ari- zona, and for all purposes req uired by law. The Board of Directors of this may revoke this appoint ment of agent at any time and shall have power to fill any vacancy in such position.
 ARTICLE 12
 Private property of the stockholders of this corporation shall be forever ex- empt from all corporate debts of any kind whatsoever.
 IN WITNESS WHEREOF, We have here unto set our hands this 9th day of September. A. D 1919.
 J. l.. SCHLEIMER
 A I. SCHLEIMER
 LESLIE c. HARDY