The Coconino sun., 1922-07-07
ADVERTISEMENT

Sonal, and to loan money on personal and other security. To do all and everything necessary, suitable or proper for the accomplishment of the foregoing purposes, or anything which the Board of Directors of the corpor- ation may, from time to time, deem to be expedient for the protection or benefit of the corporation, either in the State of Arizona or in any other state or territory of the United States.
 ARTICLE V.
 The authorized amount of the cap- ital stock of this corporation shall be One Hundred Thousand Dollars, ($100, 0,000.00), divided into one thous- and shares (1,000) of the par value of One hundred Dollars (S100.00) each. Such capital stock may be issued at such times as the Board of Directors may by resolution direct, either for real or personal property sold, con- veyed or transferred to this corpor- ation, and the capital stock so issued shall thereupon become and be fully paid up and non-assessable, and in the absence of actual fraud in the transaction the judgment of the Di- rectors as to the value of the prop erty purchased shall be conclusive.
 ARTICLE VI. The time of the commencement of this corporation shall be the date of the filing of these Articles of 1ncor- poration in the office of the Corpor- ation Commission of Arizona, and the termination thereof shall be twenty five (25) years thereafter with the privilege of renewal as provided by law.
 ARTICLE VII.
 The affairs of this corporation shall be conducted by Board of Di- rectors composed of three stockhold- CTS who shall be elected annually on the first Monday in January of each year, at ten o'clock A. M., of said day. Until such first annual election in January, 1923, the following named stockholders shall serve as directors of this corporation for the present year and until the election and quail ification of their successors, to-wit: T. E. Pollock, R. R. Pollock and w.. H. Katus.
 The names of the officers who shall have charge of the corporate affairs until their successors are elected and qualified are: T. E. Pollock, Presi- dent; R. R. Pollock, Vice-President, and W. H. Katus, Secretary and Treasurer:
 Two or more offices may be held by the same person.
 ARTICLE VIII. The Board of Directors shall have power to adopt and amend bylaws for the government of the corpora tion, to create and fill such other of- fees as they may deem desirable and fix the powers and duties thereof, and to appoint an executive commit tee and vest said committee with such powers as they may determine. Va cancies in the Board of Directors may be filled by the remaining member or members of the Board.
 ARTICLE TX.
 The highest amount of debt or lia- bility, direct or contingent, to which this corporation shall be subject at any time shall not exceed two-thirds of the par value of it's capital stock issued and outstanding.
 ARTICLE X.
 This corporation does hereby ap- point T. E. Pollock, of Flagstaff, Co., conino County, Arizona, bona fide resident of Arizona for three years last past, its lawful agent in Arizona upon whom all writs and other docu- ments may be served in any action, suit or proceeding that may be brought against said corporation in any court of Arizona with the same force and effect as if served upon the President and Secretary of said Com pany.
 l ARTICLE X.
 The private property of the stock holders and officers of this corpora tion shall be exempt from corporate debts of any kind whatever.
 IN WITNESS WHEREOF, we have hereunto set our hands and seals this 27th day of May, A. D., 1922.
 T. E. POLLOCK, (SeaD
 WILLIAM H. KATUS, (SeaD
 R. R. POLLOCK, (SeaD