Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1922-01-06
oEasTIFIoATE OF AMENDMENT
ARTICLES OF INCORPORATION
,tr.-f IL OF r. ~..-...s. 90.
LITTLE FALLS ELFxS HOME fASSO.
Il III CATION &@

LITTLE FALLS ELKs HOME .Asso-
We. Chas. Sylvester and Stephen c.
Vasaly, President and Secretary re-
spectively of the Little Falls Elks
Heme Association, a corporation or.
ganized and existing under the laws of
the State of Minnesota do hereby GER
) tify that, at the special meeting of the
stockholders of the association, duly
called and held at the office of the Sec
i Of Minnesota, on the Goth day Nove1m-
her, 1891 at which there was represent
ed in person or by proxy all the shares
issued and out standing a. resolution
of which the following is full, true
and correct copy, was as shown by the
minutes Of the proceedings of said
by the affirmative vote Of all the
shares of stock and all the stocl<hold-
ers of said association present and rep
resented at said meeting. -
Resolved. that, articles Nv and vi
eff the Articles of Incorporation of the
Association be. and hereby the same as
amended SO as t to rea d as .y follows:
The management of the affairs of
this association shall be vested in a
board of directors composed of five
members to be elected by the stock
nual meeting, the first annual meet
Monday :, Of fl the month nj Of January in
said day annually thereafter. A major
ity of the directors of this associa>
ton shall at all times be selected from
the elective' officers and the Past Elk
Number TO, Little Falls, Minnesota of
the Benevolent and Protective Order
of Elks of the United States of Amer
lea. The names of the members of the
rA of
office until the first annual meeting
are as follows: Charles Sylvester, Aus
tn Mn + K 70 70 e: A. Berg, Stephen he e.
dresses are Little Falls, Minnesota At
the first annual meeting of the stock
holders, one director shall be elected
for a term Of one year, two directors
fer term of two years and two dlrec-
tors for term Of three years. except
in the case Of a vacancy and then for
the uneSpired 1 tern; W,
shall be $75,ooO.Oo> divided into 1900
shares of the par value Of ten d0llars
sa1 Sd 8 81 iaa 95ts 5to OF FIVE eS TSa
sand (5,00O) shares. shall be preferred
stock. and Twenty Five Thousand Dol
lars ($25,000) or Twenty Five Hundred
ed the Twelve Hundred Ninety Five
(1295) shares of stock now issued and
outstanding. shall be common stock.
The said preferred stock shall en-
title the holder thereof to receive out
of the net earnings. and the associa-
ton shall be bound to pay thereon q
fixed yearly cumulative dividend OF
bit no more. payable semi-annually
on the first day of July and January
in each year, before any dividends
shall be set apart for or p ;at;o on the
to ret retir eiee at the option Of the as
seciation on the date OF the payment
of any dividend thereon at par and
death of a holder of preferred stock,
his executors or administrators shall
stock be retired and shall be paid the
par value of same and accrued d1Vl-
dends.
In the event of any liquidation or
Voluntary or Involuntary of the cor,
poration, the holders of the preferred
stock shall be entitled to be paid ID in n
shares, and the unpaid dividends &C,
crued thereon, before any amount shall
be paid to the holders of the common
Sds and o t atep hs soe Of s
par value, and the unpaid dividends
thereon, the remaining assets and
funds shall be divided and paid to the
holders of the common stock accord
ing to their respective shares.
Every holder Of the stock Of the as
ISOLATION either common or preferred
shall be entitled to one vote for each
share of stock so held by him at all
meetings of the stockholders of the
association.
The capital stock of the association
both common and preferred, may oe
issued in such manner, for such pur-
pose, and paid in at such times as the
Board of Directors may from time to
time order and prescribe.
Resolved, further, that the PRESIDENT
and Secretary of the association De
and hereby are authorized and direct
Iod for and in behalf of the association
t-and under it's corporate seal, to ceftl-
fY to the foregoing resolution ana
cause same to be approved, h!ed, re-
corded and published as required by
law and to take such other action rel
alive thereto as may be necessary to
carry out the purposes and intent
thereof"
IN WITNESS WHEREOF we have
hereunto subscribed our names reSpec-
lively as President and Secretary of
the Little Falls Elks Home Associa-
ton and for and in its behalf have
y hereunto affixed it's corporate seal this
3rd day of December. 1921.
CHAS. SYLVESTER,
President
Little Falls Ell<s Home Association
a- STEPHEN G. VASALY,
Secretary.
%4 Little Falls Elks Home Association
VI In presence of:
e. F. MERR1CK,
LOUIS w. VASALY.