Morris tribune., 1921-09-16
ARTICLES OF INCORPORATION oF
JACOBSON MOTOR COMPANY.

the undersigned, adults residents, of the
Village of Chokio, Stevens County, Min
nesota, do hereby make, sign and agree
to the following:
ARTICLES OF ORGANIZATION.
Article l: The undersigned have as
ISOLATED and do hereby associate them
ing corporation under Chapter So of
the Minnesota Statutes and acts amend
atory thereof and supplementary thereto,
the business of which corporation shall
be the engag ing in and carrying on of
road grading and building business, and
| entering into contracts therefor and to
purchase all necessary equipment, ma
terial and supplies for such work, and
in the selling of automobiles, tractors,
threshing machines, road graders, both
new and second hand and all necessary
equipment and supplies therefor, and in
the owning and operating of threShing
machine outfits; the purchase and sell
| ing OF personal property of any and all
descriptions, the buying, improving, SELL
! ing and leasing of real estate in said
State and elsewhere, and the performing
of all other acts which may be inciden-
tai to the proper carrying on of such
| businesses, in the Village of Chokio, in
| said State and elsewhere.
Article 2: The name OF said corpora
| ton shall be the jacobson Motor Com
! pany and it's location shall be in the
Village of Chokio, Stevens County, State
Article 8: The capital stock of said
corporation, shall be $50,O00.OO and the
same shall consist, of five hundred
!
| be of the face or par value of $4,000.
Article 4: The general officers of said
corporation shall be president, vice
president, secretary treasurer and the
board of directors shall consist of three
stockholders.
Article 5: The principal duties of the
| president shall be to preside at all meet
ings of the board of directors, and to
have a general supervision of the af-
fairs of the corporation
The principal duties of the vice-presi-
! dent shall be to discharge the duties Of
the president in the event of the absence
| or disability, for any cause whatever, of
The principal duties of the secretary
| treasurer shall be to counter-sign all
checks, contracts, deeds, leases and con-
veyances executed by the corporal ton,
affix the seal of the corporation thereto,
and to such other papers as shall be re-
! quired or directed to be sealed, and to
board of directors, and to safely and
systematically keep all books, papers,
records and documents belonging to the
corporation, or in any wise PERTAINING to
the business thereof, and to keep and ac-
count for all moneys, credits and prop
erty, of any and every nature, of the
corporation, which shall come into his
hands, and keep an accurate account of
all moneys disbursed and to render such
accounts, statements and inventories of
moneys received and disbursed, and Of
money and property on hand, and gener-
ally of all matters pertaining to this
office, as shall be required by the board
The board of directors may provide
for the appointment of such additional
officers as they many deem for the best
interests of the corporation.
The said officers shall perform such
additional or different duties as shall
from time to time be imposed or required
by the board of directors, or as may be
prescribed from time to time by the by
laws.
Article 6: Only persons holding stock
according to the regulations of the cor
| q "a hnr nf
! Article z: That the duration of said
corporation shall be thirty years.
Article g.: That there shall be issued
of issuance, two hundred shares of stock,
the balance to remain in the treasury as
treasury stock, to be paid for as issued.
Article 8: That the limit of indebted
ness said corporation may at any time
incur shall be $20,000:0O.
Article TO-: That the following incor-
porators shall constitute the first Board
Of Directors: NJ. ]. Jacobson, H. J
jacobson, L. M. Jacobson; that the fol-
lowing named incorporators shall con-
ton, to-wit: H. J. Jacobson, president;
l.. M. Jacobson, vice-president; M. J
jacobson, secretary-treaSurer, who shall
hold Office until their successors shall
qualified.
Article IL: That the annual meeting
of the stock holders shall be on the first
Tuesday in December, in the office of
the Company, at Chokio, Minnesota, al
ten o'clock in the forenoon, beginning
with the first Tuesday in December, 1921
and that the directors and officers herein
named shall hold office until said date
Article II: These articles may be
amended by resolution setting forth such
amendment or amendments, adopted al
any meeting of the stock holders by q
vote of at least two-thirds of all the
stock Of said corporation then outstand
ing.
Article 49, The names and residences
of the persons forming this corporation
are:
M. J. Jacobson residing at Chokio
Minnesota.
H J. Jacobson residing at Chokio
Minnesota.
L. M. Jacobson residing at Minneapo
lis, Minnesota.
In witness whereof we have hereun
to set our hands, this 18th day of June
1921.
H. J. JACOBSON,
M. J. JACOBSON,
l.. M. JACOBSON.
Signed in presence of:
JAMES B. ORMOND,
MARION LARSON.