The Coconino sun., 1923-09-14
914-5t.
ADVERTISEMENT
ARTICLES OF INCORPORATION
OF THE
INTERMOUNTAIN BUILDING AND
LOAN ASSOCIATION

4 llett we tl1C uliuCISlS1lSI navy tlAo
day voluntarily associated ourselves
together for the purpose of forming
a corporation to be known as a
building and loan association, under
the laws Of the state Of Utah, and
we do hereby certify:
Article /.
That the name Of this association
shall be INTERMOUNTAIN BUILD
ING AND LOAN ASSOCIATION.
Article H.
That the said corporation is organ
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
tho 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
seribed 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 Z. King, Salt Lake
City, Utah. $4,000 1000 shares
M. s. Rosenblatt, Salt Lake
City, Utah. $4,000 5000 shares
n. J. Hansen, Salt Lake
City, Utah. $1,000 5000 shares
A. j. Bruneau, Salt Lake
City, Utah $500 $500 shares
r. G.. Abbey, Salt Lake
City, Utah. $4,000 $500 shares
y. p. Goddard, Salt Lake
City, Utah $500 $500 shares
Lon Fisher, Salt Lake
City, Utah. $4,000 5,00G shares
e. Weinstein, Salt Lake
City, Utah. $1,000 5000 shares
NJ. III. Horton, Salt Lake
City, Utah. $500 $500 shares
John B. Armstrong, Salt Lake
City, Utah. $500 $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 said
association is formed and the charac-
ter of its business, shall be:
To provide a loan and investment
fund by sale Of stocks, bonds, certifi-
Gates and other securities, the same to
be paid for III 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 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 al classes
Of insurance, liability, surety, loan and
other financial corporations; to dc
each, al 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 OF
the state Of Utah, now in force OF
which may be hereinafter enacted.
Article VI.
The authorized capital stock Of this
association shall be one million ($1,-
OOO, O,000.0O) dollars, divided into two
classes of stock, one hundred thousand
(100,0Q0) shares of Guarantee Stock,
Of the par value of one ($1.00) dollar
per share, payable by the subscriber
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 l2c) per share; nor can a
call be made under ninety (90) day
periods.
When such. payments and accumu-
lated earnings thereon equal one
(S10O) dollar per share, said stock
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
iQGild CtOGk u LllG IldtuICu NdluC VI
one hundred ($100.00) dollars per
share, payable by the subscriber in
one installment, or on as suitable in
stallment plans as the directors Of
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 (36) months after purchase
thereof, provided, however, that an
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 con-
ssist of seven ~ persons, divided into
three classes. Directors of the first
class shall be three (3) in number,
and shall be elected for a term of one
(1) year. Difectors of the second
class shall be two (2) in nurber and
shall be elected for a term of two (2)
years. And directors Of the third
class shall be two ~ in nurIber and
elected for q term Of three (3) years,
so that the term of office Of one class
=