The Winslow mail., 1923-07-06
ARTICLES OF INCORPORATION
OF THE
INTERM9UNTAIN BUILDING AND
LOAN ASSOCIATION
now alI men hY these nresents.


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 CORPORATION is organ
lied at, and the principal place of it's
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 adj
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,O00O0 5000 shares
N. j. Hansen, Salt Lake
City, Utah $50O0OO 5000 shares
A. J. Bruneau, Salt Lake
City, Utah $2,5O0OO $500 shares
II & Abbey. Salt Lake
City, Utah $2,50000 $500 shares
]. P. Goddard, Salt Lake
City, Utah S2,5O000 $500 shares
Lon Fisher, Salt. Lake
City, Utah $5,00000 5000 shares
e. Weinstein, Salt Lake
City, Utah 100000 5000 shares
M. H. Horton, Salt Lake
City, Utah $5,60000 5000 shares
John B. Armstrong, Salt Lake
City, Utah $2,5OOOO $500 shares
Samuel w. Stewart, Salt Lake
City, Utah $4,000 500 shares
Article "
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 of it's 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 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-
tion or others, and to sell, loan, mort
gage, 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 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 100000 shares of Guarantee
Stock, of the par value of one ($100)
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 600 day periods.
When such payments and accumu-
lated earnings thereon equal one
($1.00) 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 10000
shares of investors Guaranteed Di-
vidend Stock of the matured value of
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 go in number
and shall be elected for term of one
Cd 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 a term of three (3) years,
so that the term of office of one class