The border vidette., 1926-01-30

| fraud in the transaction, the jud gment
| 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
filing of it's articles with the Corpora
tion Com mission OF the State of Ari
zona and the recording of same in the
Office OF the County Recorder of Santa
| Cruz County, Arizona, and the termi- |
nation thereof shall be twenty i've
years thereafter. with the right in the
corporation to renew it's 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 and con-
Quoted by Board OF Directors of not |
less than three (3) nor more than seven
! cese of vacancies, shall be elected at |
the annual meeting Of stock holders,
except the first board, which ia 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 directors to serve until |
the next annual stock holders meeting.
The officers OF the company shall con- |
sist OF q President, Vice 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 Drec- |
tors. Any two or more Offices, the |
=, duties OF the incumb 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. |
tion and qualification and until their |
successors are elected and 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 |
Guiding the right to Gil such places as
may be created by au 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 1T the prin-
cipal office OF the company on the seq
nnd Monday In January of each year,
commencing with the year 1926.
ARTICLE TX
The incorporators shall name the per-
sons who shall constitute the first
Board of Directors and when so select
ed by the incorporators said mem bers
of the board shall serve until the first
annual stock hold ers' meeting and until
their successors are elected and quail
flied.
ARTICLE
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-
ations 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 XI
The stockholde ers 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 Il resolution adopted at
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, 000 600 00) Dollars. ,
ARTICLE XIV
| county, A rizona, who has been bona
fide resident OF the State of Arizona for
at least three 81 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
hel eunto set our hands this Goth day
| OF October. A. D. 1925.
| RICHARD o. MEENTS
GRACE REED
| ROLAND REED