The Winslow mail., 1924-06-27


place Of general business, for at least
twenty-one days, Immediately prior
thereto, said publication being in four
issues of said newspaper in which
said notice the time, place and object
and the nature of the proposed change
and amendments were stated, tho fol-
lowing resolution was adopted, ma
jority of the shares of the outstanding
capital stock of said Association being
represented and voting therefor, the
unanimous vote of said stock being in
favor of said Resolution and no vote
being cast against the same.
RESOLUTION AMENDING THE
ARTICLES OF Incorporation
OF THE FIDELITY BUILDING &
LOAN ASSOCIATION, TO READ
AS is HEREINAFTER PROVIDED.
Resolved that the articles of incor-
pCration OF he Fidelity Building &
Loan Association be and the same are
hereby amended to read as follows:
| AMENDED ARTICLES OF INCORP-
GRAFTON OF FIDELITY BUILD
ING AND LOAN ASSOCIATION.
We, the undersigned, in order to
| conduct and carry on a Building and
|
the State Of Utah, by and with the
consent of the Banking Commissioner
of the State of Utah, do hereby file
amended Articles of Incorporation of
said Association, and we hereby certi-
| fly as follows:
I. That the name of the Associa-
tion is: Fidelity BUILDING AND
LOAN ASSOCIATION"
2. That the said Association or
ganized originally at Brigham City,
Box Elder County, in the State of
Utah, has and designates Salt Lake
City in Salt Lake County, Utah, as its
place of general business at which
said point it's principal place Of busi-
ness shall be established, but branch
places of business. each complete in
| itself for the carrying on of the busi-
ness, may be established at such 9TH
er places the board of directors may
deem advisable.
8. That the names of the incor-
porators and their places of residence
and the amount of guarantee stock
subscribed for by each, are as fol-
lows, to-wit:
Name, Place of Residence, Par VAL
| ue, No. Shares.
George W. watkins, Brigham City,
Utah, $4,000; 500.
Ezra Waddoups, Brigham City,
Utah. $4,000; 500.
N. A. Macdonald, Brigham City,
Utah, $5,000.00; 500.
John B. Matthias, Brigham City,
Utah, $5,0000O; 500.
VIM. J. Lowe, Brigham City, Utah,
| $5,O00.00; 500.
4. The term for which said Asso-
| citation is formed shall be fifty (5o)
years.
| S. The pun pose for which said As
sociation Is formed and the charac-
ter of it's business shall be: To pro-
vide loan and investment fund from
sale of stock, bonds, certificates and
| of other securities, the same to be
paid for in one single payment or by
| installments; to make loans to its
members and others on monthly re-
payment plan Of principal and inter
est: to borrow and receive money for
loan purposes and to handle con-
ltracts, stocks ,ibonds and other secur-
| tiles for same; to finance the con-
struction of buildings on real estate
owned by the Association and other
persons and to sell, lease, mortgage
and otherwise contract with reference
| thereto. To do each, all and every
thing that may be necessary or essen
! tial in and about the carrying out of
4 the objects aforesaid and all other OBJ
| jects and purposes permissible under
the laws Of the State OF Utah relating
| to Building and Loan Associations
now in force or which may be here
matter enacted.
g. Any person may become and
continue to be a member of this As
sociation by subscribing for one or
| more shares of its stock and by
! agreeing to and continuing to con-
form to the rules and bylaws OF the
Association.
ANY membel, except subscriber
to Guarantee Stock, may withdraw
upon such terms as shall be provided
for in his contract for purchase of
stock.
Losses shall be eQuitally distribut-
ed among the stockholders having due
regard to the liability Of the guaran-
| tee stock as in these articles Of in
| corporation provided.
There may be deducted from pay
ments made by subscribers to 1nves-
tors Guaranteed Dividend Stock such
sums for expenses and commissions
as the bylaws provide, and in con-
formity to the requirements of the
State in which the stock is subscrib-
ed for.
7. The authorized capital stock of
this Association is twelve million dol
lars divided into ten thousand shares
of Guarantee Stock of the par value
of $1,000 per share payable by the
subscriber $1.00 per share on sub
scription and the balance on call of
| the Board of Directors, which said
i call shall not at any time exceed zoe
per share nor can call be made un-
der ninety-day periods, and when such
payments and accumulated dividends
thereon amount to $1,000 per share
said stock shall be fully paid, the prin-
cipal fund of which said stock shall