The Coconino sun., 1923-09-21
ADVERTISEMENT
ARTICLES OF INCORPORATION
OF THE
INTERMOUNTAIN BUILDING AND
LOAN ASSOCIATION

That we the undersigned have this
day voluntarily associated ourselves
together for the purpose of forming
"a corporation to be known as d
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 III.
That the said corporation is organ
lied at. and the principal place Of
its general business shall be slt 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 ad-
visable.
Article III.
The names of the incorpOrators
and their places Of residence and the
amount of Guarantee Stock SUBJ
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. $1,000 1000 shares
M. S. Rosenblatt, Salt Lake
City, Utah. $4,000 5000 shares
N. J. Hansen, Salt Lake
City, Utah. $4,000 5000 shares
A. j. Bruneau, Salt Lake
City, Utah. $1,000 $500 shares
r. G. Abbey, Salt Lake
City, Utah. $500 $500 shares
J. r. 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. Fl. 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 nv.
The term for which said association
is formed is fifty (50) years.
Article v.
Sec. 4, The purpose for which said
assoeiation is formed and The charac-
ter of its business, shall be:
To provide 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
necessary or essential in and about
uAtE CdI yAtlS WI VI LuC uDJCGIst eA10lG-
said, and all other purposes and OBJ
jects permissible under the laws Of
the state of Utah, now in force or
which may be hereinafter enacted.
Article WI.
The authorized capital stock Of this
association shall be one million ISL
900 ,000.00) dollars, divided into two
classes of stock, one hundred thousand
(I00, ,000) shares of Guarantee Stock,
of the par value of one ($1.0O) dollar
per share, payable by the subscriber
as follows, to-wit: Five l5c) 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 Il
call be made under ninety (90) day
periods.
When such payments and sIccumu-
lated earnings thereon equal one
$1,000 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
idcnd Stock of the matured value of
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 1867 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
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-
sist Of seven ~ persons, divided into
three classes. Directors of the first
class shall be three l3) in number,
and shall be elected for 4 term Of one
~ year. Directors Of the second
class shall be two (2) in number and
shall be elected for a term Of two ~
wears. And directors of the third
class shall be two (2) in number and
elected for a term of three (3) years.