The Winslow mail., 1923-06-29
ARTICLES OF INCORPORATION
OF THE
NT'ERM1UNTAIN BUILDING AND
LOAN ASSOCIATION

together for the purpose of forming
corporation to be known as build
ing 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 II.
That the said corporation is organ
ICED 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 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 2. King, Salt Lake
City, Utah 100000 1000 shares
M. S. Rosenblatt, Salt Lake
City, Utah $500000 5000 shares
N. J. Hansen, Salt Lake
City, Utah 100000 5000 shares
A J. Bruneau Salt Lake
City, Utah S2,5O0O0 $500 shares
Il & Alley Salt Lake
City, Utah $2,5O000 $500 shares
J. P. Goddard, Salt Lake
City, Utah $2,50000 $500 shares
Lon Fisher Salt Lake
City, Utah $5,00000 5000 shares
e. Weinstein, Salt Lake
City, Utah $5,0OO0O 5000 shares
NJ H. Horton, Salt Lake
City, Utah $5,60000 $500 shares
John B. Armstrong, Salt Lake
City, Utah $2,5O0.OO $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 of it's business shall be:
To provide loan and investment
fund by sale of stocks, bonds, certii-
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 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,-
OO0,000O0) dollars dirived into two
classes of stock, one hundred thou
sand (100,000) 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 (90) day periods.
When such payments and accumu-
lated earnings thereon equal one
($1.00) dollar per share, said stock
shall stand as 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 ($100.00), 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 (36), months after purchase
thereof, provided, however, that all
Pcly AAlC1AIS then OuG shall nave USGu
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
fhn oGGnaiofinn chaII hn fnd in n
board of directors, which shall con-
sist of seven CD persons, divided into
three classes. Directors of the first
class shall be three 60 in number,
and shall be elected for term Of one
O year. Directors of the second
class shall be two (2) in number and
shall be elected for a term of two
~ years. And directors of the third
class shall be two(2( in number and