The Coconino sun., 1923-10-19

any vacancy or vacancies occurring In
the board, and also to Till any va
cancy or vacancies occurring among
the officers OF. the corporation.
(e) Said board of directors shall
have full power to establish and adopt
bylaws for the government of this
corporation, and to alter and amend
the same, and to make all rules and
regulations expedient for the manage
ment of the affairs of this corpora
tioll.
CID Any person who shall cease
to be a stakeholder shall thereupon
cease to besa director of this corpora
tion.
ARTICLE VIII.
(a) The officers of this corpora
tion shall be president, vice-presi-
dent, secretary and treasurer, and
they shall be elected respectively by
the board of directors from among
the stockholders Immediately after
the annual meeting of the stockhold-
ers, and such officers shall hold office
for one (1) year or until their success
sors respectively are elected and
qualified.
~ Until the first annual meeting
of the board of directors, the directors
named herein shall elect the officers
of this corporation.
Cd The offices of secretary and
treasurer Of this corporation may be
held by one and the same person, if
so ordered by the board of directors.
ARTICLE TX.
The highest amount of Indebtedness
or liability, direct or contingent, to
which this corporation shall be subject
at any one time shall be Sixty-six
thousand six hundred sixty-six and CT
100 (66, 6,666.67) dollars. m
ARTICLE X.
The names, residences and post Of
flee addresses of the incorporators
are:
|. L. Hart, Flagstaff, Arizona.
A. Boenitsch, Flagstaff, Arizona.
c. ]. Babbitt, Flagstaff, Arizona.
ARTICLE XI.
The private property of the stock
holders of this corporation shall be
exempt at all times and in any event
from any and all liability for its cor
porate debts of any kind whatsoever,
ARTICLE XII.
The clauses hereinabove set forth
in Article LII hereof shall be con-
strued as a statement of both OBJ
jects or purposes and powers, which
powers shall be cumulative; and no
recitation, expression or declaration
herein of any specified object or pur-
pose or special power shall be deemed
to be exclusive of any one or more of
the others, or of any other power
which may be lawfully exercised;
and it is hereby expressly declared
that all other lawful powers not in
consistent Herewith are hereby in
GUIDED; and this corporation shall
have power to carry into effect any
one or more or all of tie objects or
purposes, hereinabove set forth, and
to that end to do any one or more or
all of the acts and things aforesaid,
and likewise any or all such other acts
and things necessary or incidental
theTato as such corporation may law
fl-ny do; and in conducting and carry
ing on its business, and for the pur-
pose of attaining, promoting or fur
theTing any one or more of it's said
objects or purposes, to exercise any
or all powers aforesaid, and any other
or additional powers now or hereafter
authorized by law which natural
person might or could lawfully exer-
else in the premises, either alone or
in conjunction with others, in any and
all parts of the world,
IN WITNESS WHEREOF, we have
hereunto set our hands this 10th day
of August, Nineteen Hundred twenty
three 1929.
I. L. HART,
A. BOENITSCH,