Nogales international., 1927-01-16

HOW OF hereafter may DG dutIAOI'
lied by law, and either as, or by
and through principals, agents, at
torneys, trustees, contractors,
factors, lessons, lessees, or other
wise, either alone or in conjunc-
tion with others and in any part of
the world; and in addition to have
and to exercise all the rights, pow
ers and privileges now or hereaft-
er belonging to or conferred upon
corporal ons organized under the
provisions Of the law authorizing
the formation of such corpora
tions.
ARTICLE v.
The authorized amount Of the
capital stock of this corporation
shall be Twenty Five Thousand
(s25,O00.OO) Dollars, divided into
twenty-five hundred (2500) shares
of the par value of Ten ($1O.0O)
Dollars each. Upon subscription
therefor said capital stock shall be
paid into the corporation in such
manner and upon such terms AS
the board of directors may fix in
cash, services, or by the sale,
transfer and assignment to the
corporation of property, property
rights or interests therein, real or
personal, for the uses and pur-
poses of the corporation, and IN
payment for which, shares of the
capital stock of the corporation
NAV be issued, and such stock so
issued shall thereupon and thereby
become and be fully paid up and
worcestershire, and in the absence
of actual fraud in the transaction,
the Judgment of the Board OF
Directors as to the value of the
iservices rendered or property pur-
chased 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 Corporation Commission
of the State Of Arizona and the
recording Of same in the office of
the County Recorder Of Santa
Cruz County, Arizona, and the
termination thereof shall be twer-
Ity-five years thereafter, with the
fright in the corporation to renew
Its charter for an additional per-
Iiod of twenty-five years as now
Iprovided by law.
ARTICLE VII.
The management and conduct OF
the business, property and affairs
of the corporation shall be vested
in and conducted by board OF
directors Of not less than three
| (3) nor more than seven (7) per-
sons, and all directors, except In
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 Of
f;cers of the company shall con-
sist of a President. Vice-President,
Secretary and Treasurer, and such
other officers as the Board OF
Directors shall deem expedient,
and all shall be elected or appoint
ed bv the Board Of Directors. Any
two or more offices, the duties Of
incumbent of which are not incon-
sistent, may be held by the same
person. Both the officers and di-
rectors shall hold their offices for
the period Of one year from and
after election and qualification and
until their successors are elected
and qualified. unless removed by
the board. The directors shall
have the right to fill any vacancy
occurring in the board by death
Resignation, or otherwise, and the the
nerson or persons elected to I'll
anv such vacancy or vacancies
| shah hold his office until the next
rao,,1ar meeting Of stockholders.
ARTICLE VIII.
The regular annual meeting OF
the stockholders shall be held az
10 nr;ncipaI office Of the corpora
+ior on the fourth Monday in De-
cember in each year, commencing
with the year 1927.
ARTICLE TX.
The incorporators shall name
the persons who shall constitute
the first board of directors ana
when so selected by the lncorpor,
ators said members Of the Doar1
shall serve until the first annual
stockholders meeting and 'unti,
their successors are elected anu
qualified.
ARTICLE x.
The board of directors shall nave
the power to make and alter tne
bv-laws of the corporation; TO 1lx
The amount to be reserved as
working capital, and to authorize
and cause Co be executed mort
cages. debentures and other obl1ga-
t;Gns which shall be liens upon the
nropertv and franchises Of the
corporation, and. in general TO
exercise all the powers and au1n-
oritv of the company not express
W withheld from said board ny
law. or by these Articles OF In
corporation, or by the affirma-
live action of the stockholders.
ARTICLE XI.
The stockholders and members
of this corporation and their prl-
vate property shall be exempt
from any liability for the debts OF