The Coconino sun., 1923-08-17
ARTICLES OF INCORPORATION
OF THE
INTERMOUNTAIN BUILDING AND
n 4

mat We The Undersigned nave Lnls
day voluntarily associated ourselves
together for the purpose of forming
corporation to be known as a
building 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 TT.
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
the board Of directors may deem adj
visable.
Article ILL.,
The names Of the incorporators
and their places of residence and the
amount Of Guarantee Stock sub
scribed 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. $4,000 1000 shares
NJ. S. Rosenblatt, Salt Lake
City, Utah. $4,000 5000 shares
N. j. Hansen, Salt Lake
City, Utah. $4,000 5000 shares
A. +. Bruneau, Salt Lake
City, Utah. $2,500 $500 shares
r. G.. Abbey, Salt Lake.
City, Utah. $2,500 $500 shares
J. p. Goddard, Salt Lake
City, Utah $500 $500 shares
Lon Fisher, Salt Lake
City, Utah. $4,000 5000 shares
E. Weinstein, Salt Lake
City, Utah. $4,000 5000 shares
NJ I'll. Horton, Salt Lake
City, Utah. $500 $500 shares
John B. Armstrong, Salt Lake
City, Utah. $1,000 $500 shares
Samuel w. Stewart, Salt Lake
City, Utah $500 500 shares
Article Nv.
The term for which said association
is formed is fifty (50) years.
Article v.
Sec. /. 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 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 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 all classes
Of insurance, liability, surety, loan and
other financial corporations; to do
each, all and everything that may be
I 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 or
which may be hereinafter enacted.
Article vi.
The authorized capital stock of this
association shall be one million ($1,-
OGO. O.O0O.0o) dollars, divided into two
classes of stock, one hundred thousand
/ (1G0,000) shares of GUARANTEES Stock,
Of the par value Of one ($1.OO) 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 (2c) per share; nor can a
call be made under ninety (9O) day
periods.
When such payments and accumu-
lated earnings thereon equal one
( (S1.OO) dollar per share, said stock
I shall stand as a permanent stock,
which shall be held to protect the as
sociation, and guarantee all stocks
4 bonds, securities and creditors
/ against loss; nine thousand (9,00O)
+ shares of investors Guaranteed Div
+ 1uCnQ SiOCk Ol Tic iAlelIAlLSt FctAStS -
one hundred (s10O00) dollars pei
1 share, payable by the subscriber IN
one installment, or on as suitable IN
stallment plans as the directors OF
t the association may by resolution en-
act The Investors Guaranteed Div
4 idend Stock may be withdrawn by the
owner thereof, at any time after thir-
ty-six 1861 months after purchase
thereof, provided, however, that al
payments then due shall have been
regularly paid thereon notice to the
company Of intention to withdraw. Tbs
entire book value of said stock shall
I be paid the legal holder of said stock
1 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
board Of directors, which shall con
sist Of seven ~ persons, divided int
three classes. Directors OF the flrs1
class shall be three 60 in number
and shall be elected for a term OF one
4 (1) year Directors of the SECOND
class shall be two (2) in number ane
shall be elected for term OF two 81
years. And directors Of the tflr6
class shall be two (2) in number ane
elected for a term of three Cd years