Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-01-21
ARTICLES or INCORPORATION

ARTICLES OF INCORPORATION
OF the Farmers Investment Company,
Albion. Iowa.
We, whose names are hereto sub
scribed, hereby associate ourselves
Into body corporate under the pro-
visions Of Chapter /, Title TX. OF the
Code Of Iowa ana acts an1endatory
fhereof-particularly Sections 1907 to
1885 inclusive: assuming all the pow
ers, rights and privileges granted
bodies corporate, and all the duties
and obligations imposed by said
statutes, and being bound thereby,
adopting the following articles of in
corporation, to-wit:
ARTICLE /.
The name of the corporation shall
be the Farmers Investment Company.
OF Albion. Iowa.
ARTICLE II.
It's principal place of business shall
be at Albion, In the county of Mar
shall and state of Iowa.
ARTICLE Ill.
The object Of this corporation is to
buy. hold. sell and deal in all kinds
Of merchandise, machinery, motor
vehicles and their accessories, includ-
ing oil and gasolene, also electric.
motors, and electrical apparatus. This
corporation shall have 'the right to
buy. hold, sell and convey personal
property and such real estate as may
be necessary or convenient for the
proper conduct Of the affairs OF this
corporation. All conveyances Of real
property made by this corporation
shall be executed by the president and
countersigned by the secretary; and
all releases Of mortgages, liens. judy
ments or other claims that are re-
quired by law to be made Of record
may be executed by the president,
vice-president or secretary of this
corporation.
ARTICLE ".
The amount OF capital stock author
tied Is Twenty Thousand S20.000.00)
Dollars. divided into shares Of Tween
ty-five Dollars each. The corpora
ton may commence business when
$4,000. 90 in stock has been issued. No
stock shall be issued until the corpor-
alton has received payment In full
therefor at par in cash or property:
provided, however. that when stock Is
issued for anything other than money,
It must be subject to the approval Of
the executive council Of Iowa, as
provided in Section 1e41-b Of the
Supplement to the Code. 1913, and
any amendments thereto. The capi-
tai stock authorized may be increased
by vote Of majority in interest Of all
the stockholders, by the adoption OF
an amendment to these articles.
When the outstanding capital Is in
creased. the additional shares shall
be offered to the existing stockhold-
ers proportionately to their holding
at not less than par.
ARTICLE v.
The corporate period Of this cor
poration shall begin on the date thu
Secretary Of state issues a certificate
Of incorporation, and shall terminate
at the expiration of twenty (2o)
years from said date unless sooner
dissolved by . two-thirds vote OF the
stockholders at any annual meeting.
or at q special meeting called for
that purpose. or by unanimous con-
sent as provided by law.
ARTICLE VI.
Tho affairs of thta corporation
shall be managed by q board Of i've
directors. who shall elect a president.
vfce-president, secretary and tress-
urer and such officers. including an
executive committee. as they may see
fit or as may be provided for by the
by-laws of this corporation,
ARTICLE VII.
The annual meeting shall be held
on the first Monday in October. IN
til the first election. which shall be
held on the first Monday Of October,
1920, the following persons shall be
directors,
Martin Graham ...,Aibion, Iowa
A. s.. Beary ,,.,,,,. Albion. Iowa
A. o. Wiley ,,,,,,,, Albion, Iowa
D. s. Collins ,.,,,,, Albion Iowa.
s. j. Burrough ~, Albion, Iowa.
and the. following persons shall be
officers:
Martin Graham, president, Albion.
iowa,
A. S. Beary, vice president Albion,
Iowa,
A, o. Wiley, secretary. Albion, iowa.
D. g, Collins, treasurer, Albion.
Iowa,
All officers OF this corporation shall
hold office for the term OF one year
or until their SUCCESSORS are elected
and have qualified. Every director
shall Cba 4 stakeholder and II any d.
rector shall sell or transfer his stock
In this corporation he shall 1t >opca
cease 70 b director, The board Of
directors may FIJI all vacancies 90
ourrins IN it's membership between
annual elections by the appointment
Of qualified persons 10 hold office for
the remainder OF the term, Special
meetings Of the stockholders may be
called 1T any time by the president
giving Ave days notice in person or
in whiting to the stockholders and
shall be called by him at any time
upon request of two thirds or moro
stockholders, and in csss of his
neglect or refusal to Gall meeting,
two-thirds or more stockholders may
Join IN call of the steolShol ders,
which shall be the Same ~ tho called
by the president, At all meetings of
the stookhelders each stockhelder
shall be entitled 70 one vote, which
vote ne must cast IN person.
ART1eH0 VEIL
The highest amount o. indebtedness
10 which this evaporation may at any
time subject itself SHALL not exceed
two thirds n its nA4d-v1 and cut