The Coconino sun., 1923-09-14

all SCOck, DonQS, SecuTltleS ana credl-
tors against loss.
8. Forty-eight thousand nine hun
dred shares of Investors Guaranteed
Dividend Stock of the matured par
value of one hundred dollars per share,
payable by the subscriber in one in~
stallment upon such suitable INSTALL
ment plans as the directors of this
corporation may by resolution enact.
The Investors Guarantee Dividend
Stock, when matured, may be with
drawn by the owner thereof after CIV
ing thirty days written notice to the
company of intention to withdraw.
The Investors Guarantee Dividend
Stock may be withdrawn before ma
turity and the surrender value thereof
received by the owner of said stock
subject thereto, as the directors of
This corporation may determine from
| time to time by resolution or as fixed
| bK the bylaws of the corporation. All
withdrawals of Investors Guaranteed
Dividend Stock, whether the same be
made before or after maturity, shall
be paid from the Investors Guarantee
| Dividend Stock Fund in the way and
manner and as provided by law, the
| Articles of Incorporation, and the by
laws of this corporation"
"BE IT RESOLVED, That Article
| TX of the Articles of Incorporation of
| his corporation shall be amended by
| striking the whole of said Article TX
is now written and substituting there
ior the following, to-wit:
| Article TX. There shall be three
funds maintained by this corporation:
i. Expense Guarantee Stock Fund.
2. Permanent Reserve Guarantee
Stock Fund.
8. Investors Guarantee Dividend
Stock Fund.
I 1. The Expense Guarantee Stock
Fund shall be credited with all load
ings, membership fees, fines, penalties,
/ lne-half Of all forfeitures and not TO
I exceed one per cent per annum Of the
otal amount of savings deposits and
aid Expense Guarantee Stock Funds
| shall be charged with all expenses of
management and all or any part of
said fund may be used to defray such
expenses.
2. The Permanent Reserve Guaran-
zee Stock Fund shall be credited from
he earnings Of the corporation with
| 1ne-half of all forfeitures and the
whole of all gains resulting from the
withdrawal of stock, and shall further
/ De credited with eight per cent COM
| pounded semi-annual interest on the
oar value of said Permanent Reserve
Guarantee Stock, provided the Inves-
| ors' Guarantee Stock Fund shall first
| lave been credited with its guarantee
| md said Permanent Reserve Guaran-
| zee Fund shall participate hereafter
| With the Investors Guarantee Stock
| fund in all amounts declared by the
corporation as dividends on the pro-
portion that the issued Permanent Re
serve Guarantee Stock bears to the. is
;ued stock of the corporation.
3. So long as the maximum rate OF
interest provided under the laws of
he state of Utah shall be twelve per
| ,ent per annum, the Investors Guar
.ntee Dividend Stock Fund shall be
,redited from earnings with eight per
,ent per annum interest compounded
,en1i-annually upon the total amount
| standing to the credit of such stock
IN the books of the corporation which
| amount or book value shall be all
moneys paid on said Investors Guar
lntee Dividend Stock, less all moneys
)aid therefrom into other funds OF
| .he corporation. Should the maximum
rate Of interest as allowed by the laws
| IF the state of Utah be reduced below
/ he present maximum rate Of twelve
| 9er cent per annum, then said guar
intee of eight semi-annually shall be
| ,educed one per cent for each one per
| .ent that the said maximum rate OF
interest allowed by the laws of the
| state of Utah shall hereafter be re-
duced.
| All dividends and interest declared
or paid by this corporation and all
payments of matured stock shall be
declared and paid in the way, manner
| md order as provided by law, these
Articles Of Incorporation and tie by
avs of this corporation"
| THE INTERMOUNTAIN BUILD
| ING AND LOAN ASSOCIATION is
a corporation organized and existing
| ander and by virtue Of the laws OF
he state Of Utah, having its principal
| lace of business at Salt Lake City,
| Salt Lake county, Utah, and was in
| orporated by filing its Articles Of In
corporation with the county clerk of
Salt Lake county, Utah, on the 18th
day of November, 1920, and thereafter
filing a certified copy thereof with
he secretary of state of the state of
Utah.
| IN WITNESS WHEREOF the said
Joseph j. Daynes, Jr., and the said
Thorvald L. Larsen, as such president
! and secretary, respectively, of the said
| IINTERMOUNTAIN BUILDING AND
ILOAN ASSOCIATION, have hereunto
set their hands at Salt Lake City, Salt
Lake county, Utah, the 9th day of No
vember, 1921.
JOSEPH J. DAYNES,
President,
[ntermountain Building and Loan As
sociation.
THORVALD L. LARSEN,
Secretary,
Intermountain Building and Loan As
sociation.
| corporate Seal.l
Amendment to Articles of Incor-
poration of INTERMOUNTAIN
BUILDING AND LOAN ASSOCIA-
lTION.
Filed in the Clerks office, Salt Lake
| County, Utah, November IA, 1921.
Clarence Cowan,
Cotlutv {,larla