The border vidette., 1925-12-12

fraud in the transaction, the iud gmcnt
Of the board Of directors as to the vane
Of the services rendered or property
purchased shall be conclusive.
ARTICLE vi
The time OF the commencement OF
this corporation shall be the date of the
filing of its articles with the Corpora
tion Commission OF the State OF Ari
zona ard the recording OF same in the
office Of the County Recorder Of santa
Cruz County. Arizona, and the termi-
nation thereof shall be twenty-five
years thereafter. with the right in the
corporation to renew its charter for an
additional period of twenty five years
as now provided by law.
ARTICLE VII
The management and conduct of the
business, property and affairs OF the
! corporation shall be vested in aud con-
Quoted by Board OF Directors OF not
less than three (3) nor more than seven
! ~ persons, and hli-directors, except in
J case Of vacancies, shall be elected at
the annual meeting of stock holders,
except the first board, which Is chosen
as in these articles hereinafter set
! forth. The Board of Directors shall
have the right and power TO increase
the number Of directors up to seven (7)
at any time. and to appoint or elect
such additional directorssto serve until
the next annual stock holders meeting
The officers OF the company shall con-
slst of President, Vice Preside dent,
| Secretary and Treasurer. and such other
officers as the Board of Directors shall
deem exDedient, and all shall be elected
or appointed by the Board of Direc-
tors. Any two or more offices. the
duties Of the incum bent OF which are
not inconsistent, may be held by the
same person. Both the officers and
directors shall hold their Offices for the
/ period OF one year from and after elec.
iion and qualification and until their
successors are elected aud qualified,
unless removed by the board. The di-
rectors shall have the right to ill any
vacancy occurring in the board by,
death, resignation or otherwise, in
c!uding the right to Gil such places as
may be created by an increase in the
number of the board. and the person or
persons elected to fill any such vacancy
or vacancies created through increas-
ing the number of the board, shall hold
his office until the next regular meeting
OF stock holders.
ARTICLE VIII
The regular annual meeting of the
stock holders shall be held ut the prin-
cipal office of the company on the seo-
ond Monday in January of each year,
commencing withAhe year 1925.
/ ARTICLE TX
The incorporators shall name the per.
i hn oh h1
| Board Of Directors and when so Select
ed by the incorporators said memb bers
of the board shall serve until the, first
annual stock holders meeting and until
their successors are elected and quail
flied,
ARTICLE x
The Board of Directors shall have the
| power to make and alter the bylaws OF
the corporation; to fix the amount to
be reserved as working capital, and to
authorize and cause to be executed
mortgages, debentures and other oblig.
4 ations which shall be liens upon the
property and franchises of the corpora
I ton, and, in general to exercise all the
powers and authority OF the company
4 not expressly withheld from said board
by law, or by these Articles Of Incor-
poration. or by the affirmative action
of the stockholders.
ARTICLE XI
| The stockholders and members of this
corporation aud their private property
shall be exempt from any liability for
the debts of this corporation.
ARTICLE. XII
With the consent of the holders of
Il hruo ir6S in Of 81
stock of this company, issued and out
standing when evidenced in writing or
with the consent OF o majority in am
cunt OF the capital stock OF the COR
po.ation. issued and outstanding. when
expressed by resolution adopted at q
meeting OF the stock holders OF the
company DULY called and held pur-
suant TO the bylaws, the directors
shall have authority to sell or other.
wise dispose Of in such manner as may
be authorized, the entire property and
assets of the corporation.
ARTICLE XIII
The Indebtedness OF this company
shall at no time exceed the sum of One
! Million Isl, 600. 900 00) Dollars.
ARTICLE XIV
Duane Bird, of Nog ales, Santa Cruz
county. Arizona, who has been bona
! fide resident of the State of Arizona for
at least three t3) years, is hereby ap-
pointed the lawful agent of this corpor-
alton for and on behalf OF it,, to accept
and acknowledge service, and upon
whom may be served all necessary pro-
cess in any action, suit or proceeding
that may be held or brought against
! this corporation in any of the Courts
of the State of Arizona, and for all
purposes required by law
IN WITNESS WHEREOF, we have
he1eunto set our hands this 26th day
! OF October. A. D. 1925.
RICHARD o. MEENTS
| GRACE REED
ROLAND REED