The Coconino sun., 1923-09-07


lied at. and the principal place OF
its general business shall be at Salt
Lake City, Salt Lake county, state
of Utah. Branch places of business
each complete in itself, or otherwise
for carrying on the business may be
established, at such other places as
the board of directors may deem adj
visable.
Article III.
The names of the incorporators
and their places Of residence and the
amount of Guarantee Stock sub
scribed for by each, are as follows
to-wit:
Name Place of Residence
Par Value No. of Shares
Joseph Daynes, Salt Lake
City, Utah. $4,000 10000 shares
Daniel Alexander, Salt Lake
City, Utah. $4,000 10000 shares
Wesley E. King, Salt Lake
City, Utah, $4,000 1000 shares
M. S. Rosenblatt, Salt Lake
City, Utah. $4,000 5000 shares
N. ]. Hansen, Salt Lake
City, Utah. $4,000 5000 shares
A. J. Bruneau, Salt Lake
Z City, Utah. $4,000 $500 share:
R. G. Abbey, Salt Lake
City, Utah. $1,000 $500 share!
y. P. Goddard, Salt Lake
City, Utah $1,000 $500 shares
Lon Fisher, Salt Lake
City, Utah. $4,000 5000 shares
E. Weinstein, Salt Lake
City, Utah. $4,000 5000 share.
M. H. Horton, Salt Lake
City, Utah. $4,000 5000 shares
John 8. Armstrong, Salt Lake
City, Utah. $1,000 $500 shares
Samuel w. Stewart, Salt Lake
City, Utah $500 500 shares
Article w.
The term for which said association
is formed is fifty (50) years.
Article v.
Sec. 1. The purpose for which sale
association is formed and the charac
ter of its business, shall be:
To provide loan and investment
fund by sale of stocks, bonds, certifi
Gates and other securities, the same tx
be paid for in single payments, or b,
installments; to make loans to it!
members on a monthly payment plar
of principal and interest; to borrow
and receive money for loan purposes
and handle contracts, stocks, bonds
and other securities for same. To fl
nance the construction of buildings OF
real estate owned by the association
or others, and to sell, loan, mortgage
and otherwise contract with reference
thereto.
Sec. 2. To protect and further its
interests, the association shall be en-
powered to act as agent for all classe:
of insurance, liability, surety, loan anC
other financial corporations; to dt
each, all and everything that may be
necessary or essential in and about
the carrying out of the objects afore
said, and all other purposes and OBJ
iects permissible under the laws oi
the state of Utah, now in force ol
which may be hereinafter enacted.
Article VI.
The authorized capital stock of this
association shall be one million ISL,
900 100000 dollars, divided into twt
classes of stock, one hundred thousand
(100,000) shares of Guarantee Stock
of the par value of one ($100) dollar
per share, payable by the subscribel
as follows, to-wit: Five (5c) cents pei
share on subscription and the balance
on call of the board of directors, which
said call shall not at any one time
exceed two (2c) per share; nor can {
call be made under ninety (90) day
periods.
When such payments and accumu
lated earnings thereon equal ont
($1.00) dollar per share, said stocl
shall stand as a permanent stock
which shall be held to protect the as
sociation, and guarantee all stocks
bonds, securities and creditors
against loss; nine thousand (9,000]
shares of investors Guaranteed Div
idend Stock of the matured value oil
one hundred ($100.00) dollars pei
share, payable by the subscriber ir
one installment, or on as suitable in.
stallment plans as the directors ol
the association may by resolution en-
act. The Investors Guaranteed Div
idend Stock may be withdrawn by the
owner thereof, at any time after thir-
ty-six 1867 months after purchase
thereof, provided, however, that all
payments then due shall have been
regularly paid thereon notice to the
company of intention to withdraw. The
entire book value of said stock shall
be paid the legal holder of said stock
from the Guarante fund in the way
and manner as provided by law.
Article VII.
The management of the affairs of
the association shall be vested in a
board of directors, which shall corr
sist of seven (7) persons, divided into
three classes. Directors of the first
class shall be three (3) in number,
and shall be elected for term of one
~ year. Directors of the second
class shall be two (2) in number and
shall be elected for a term of two (2)
years. And directors of the third
class shall be two (2) in number and
elected for term of three (3) years,
so that the term Of office Of one class
shall expire in each year, and shall be
elected at the regular annual stock
holders meeting, provided, that at the
first regular stockholders meeting
there shall be elected a total of seven
~ directors to serve for the respec-
tive terms. and provided further that
all directors shall serve until their
successors are elected and qualified.
No person shall be eligible to the Of
flee Of director of this association who