The Winslow mail., 1923-07-20
ARTICLES OF INCORPORATION
OF THE
INTERM0UNTAIN BUILDING AND
LOAN ASSOCIATION


That we the undersigned have this
day voluntarily associated ourselves
together for the purpose Of forming
a corporation to be known as build
ing and loan association, under the
laws of the state of Utah, and we do
hereby certify:
Article I.
That the name of this association
shall be INTERMOUNTAIN BUILD
ING AND LOAN ASSOCIATION.
Article II
That the said corr grafton is organ
ized 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 es-
tablished, at such other places as
the board Of directors may deem ad-
visable.
Article III.
The names of the incorporators and
their places of residence and the
amount of Guarantee Stock subscrib-
ed 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 100000 1000 shares
M. S. Rosenblatt, Salt Lake
City, Utah $5,OOOOO 5000 shares
N. J. Hansen, Salt Lake
City, Utah $5,0O0.00 5000 shares
A. J. Bruneau, Salt Lake
City, Utah $2,500.00 $500 shares
II G Abbey. Salt Lake
City, Utah $2,500.00 $500 shares
]. P. Goddard, Salt Lake
City, Utah $2,5OOOO $500 shares
Lon Fisher, Salt Lake
City, Utah $5,00000 5000 shares
E. Weinstein, Salt Lake
City, Utah $5,00000 5000 shares
M. Fl. Horton, Salt Lake
City, Utah $5,6O000 5000 shares
John B. Armstrong, Salt Lake
City, Utah $2,5O0.0O $500 shares
Samuel w. Stewart, Salt Lake
City, Utah $4,000 500 shares
Article w
The term for which said associa-
tion is formed is fifty (50) years.
Article V.
Sec 1. The purpose for which said
association is formed and the charac-
ter tof it's business shall be:
To provide loan and investment
fund by sale of stocks, bonds, certifi-
Gates and other securities, the same
to be paid for in single payments, or
by installments; to make loans to its
members on a monthly payment plan
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
on real estate owned by the associa-
ton or others, and to sell, loan, mort
gage, and otherwise contract with
reference thereto.
Sec. 2. To protect and further it's
interests, the association shall be en-
powered to act as agent for all class
es of insurance, liability, surety, loan
and other financial corporations; to
do each, all and everything that may
be necessary or essential in and alb
out the carrying out Of the objects
aforesaid, and all other purposes, and
objects permissible under the laws
Of the state of Utah, now in force or
which may be hereinafter enacted.
Article vi.
The authorized capital stock of this
association shall be one million ($1,-
000,000.00) dollars dirived into two
classes of stock, one hundred thou
sand (100,000) shares of Guarantee
Stock, of the par value of one ($1.00)
dollar per share, payable by the sub
scribed as follows, to-wit: Five (5c)
cents per 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) cts.
per share; nor can call be made
under ninety (90) day periods.
When such payments and accumu-
($1.00) dollar per share, said stock
which shall be held to- protect the as
sociation, and guarantee all stocks,
bonds, securities and creditors
against loss; nine thousand 10000
shares of investors Guaranteed Di-
one hundred ($10000), dollars per
share, payable by the subscribed in
one installment, or on as suitable in
stallment plans as the directors of
the association may by resolution en-
act. The Investors Guaranteed Di-
vidend Stock may be withdrawn by
the owner thereof, at any time after
thirty-six (96), 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 pc paid the legal holder Of said
stock from the Guarantee 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 con-
sist of seven CD persons, divided into
three classes. Directors of the first
class shall be three CD in number
and shall be elected for term Of one
(I year. Directors of the second
] -, h. Il