The border vidette., 1926-01-02

aSSeSSaDle, ana In Lne absence OF actual
fraud in the transaction, the judgmen
OF the board of directors as to the value
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
fling of it's articles with the Corpora
tion Com m ission OF the State of Ari
zona and the recording OF seme 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 oftwenty five years
as now provided by law.
ARTICLE VII
business, property and affairs of the
Quoted by Board Of Directors of not
less than three (3) nor more than seven
(7) persons, and all directors, except in
case Of vacancies, shall be elected at
I the annual meeting of stock holders.
except the first board. which is chosen
as in tt ese articles hereinafter set
fforth. 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 directors to serve until
the next annual stock holders meeting
The officers of the company shall con-
sist of President, Wee President,
Secretary and Treasurer. and such other
officers as the Board Of Directors shall
deem expedient, and all shall be elected
or appointed by the Board of Direc-
tors. Any two or more Offices, the
duties Of the incumben 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.
tion and qualification aud until their
successors are elected aud qualified,
unless removed by the bonrd. The di.
rectors shall have the right to ill any
vacancy occurring in the board by
death, resignation or otherwise. in
cluding the right to fill 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. .,a
ARTICLE VIII
The regular annual meeting of the
stock holders shall be held at the prin-
cipal Office of the company ON the Sec
nnd Monday in January of each year,
commencing with the year 1926.
ARTICLE TX
| The incorporstors shall name the per.
sons who shall constitute the first
Board of Directors and when so select
| ed by the incorporators said member
of the board shall serve until the first
| annual stock hold ers' meeting and until
their successors are elected and quail
| ifed.
ARTICLE x
The Board of Directors shall have the
power to make and alter the bylaws of
the corporations; to fix the amount to
be reserved as working capital, and to
authorize and cause to be executed
mortgages, debentures and other oblig-
ationse which shall be liens upon the
| property and franchises of the corpora
ton, and, in general to exercise all the
powers and authority of the company
not expressly withheld from said board
by law, or by these Articles of Incor-
poration. or by the affirmative action
of the stockholders.
ARTICLE XL
The stockholders and members of this
corporation and their private property
shall be exempt from any liability for
the debts OF this corporation.
ARTICLE XII
With the consent of the holders of
two-thirds 90 in amount of the capital
stock of this company, issued and out
standing when evidenced in writing or
! with the consent Of majority in am
ount OF the capital stock of the COR
po:ation, issued and outstanding, when
| expressed by IA resolution adopted at h
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, 600 600 00) Dollars.
ARTICLE XIV,
Duane Bird, OF Noeales. Santa Cruz
county. Arizona, who has been a bona
| fide resident OF the State of Arizona for
at least three (3) 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
| hot ba h01H
| this corporation in any of the Courts
of the State of Arizona, and for all
purposes required by law
IN WITNESS WHEREOF, we have
! hereunto set our hands this Goth day
| of October A. D. 1925.
RICHARD 0. MEENTS
GRACE REED
ROLAND REED