The border vidette., 1927-10-08

to do any and all other acts and things.
and to exercise any and all other DOW.
ers which q natural person could do or
exercise, and which now or hereafter
may be authorized by law.
ARTICLE Nv
The amount of the capital stock OF
this corporation shall be Five Hundred
Thousand $500, 600 O0) Dollars, divided
into five thousand (5.0O0.O .O0) shares OF
the par value OF One Hundred $500 90.
Dollars each.
The capital stock shall be common
stock, and the terms upon which the
| same Is created are that 1t shall be is-
sued to the full par value thereof, and
said stock shall be issued as fully paid
and nom assessable. and the capital
etock of this corporation, after It's full
par value has been paid. shall not be
subject to assessment to pay the debts
OF the corporation. Said capital stock
may be payable in cash, or by the sale
and transfer to 1t OF real or personal
property, contracts, services. .or any
valuable right, or thing for the uses
AID purposes OF said corporation. or
for satisfying Indebtedness, and in the
absence of actual fraud In the transae.
tion. the judgment OF the directors as
to the value thereof shall be conclusive.
ARTICLE Nv
The time OF the commencement of
this corporation shall be the date on
which certificate OF incorporation is
issued 6y the Corporation Commission
OF the State Of Arizona. and it shall
terminate twenty i've t25) years there.
after. unless renewed and extended by
law
ARTICLE VII
The affairs OF this corporation shall
be conducted by board of not less
than three nor more than seven direc.
tors, who shall be stockholders of the
corporation Said directors shall be
elected at the annual meeting OF the
stock holders. and shall serve one ear,
and until their successors are elected
and qualified Tho annual meeting OF
this corporation shall be held at such
place, time and hour as may be pre-
scribed by the by laws OF the corpora.
tioH.> The first board OF directors shall
be elected by the incorporators, who
shall serve until their successors are
elected and qualified. II at any time
vacancy in tie board OF directors
shall occur, said vacancy may be filed
by the remaining members of the board
In Office. The person SO elected TO fill
q vacancy shall serve during the unex-
pired term OF his predecessor, and until
his successor is elected and qualified,
ARTICLE VIII
The officers OF this corporation shall
be q president. ce-prcs;dent. secre.
tary and treasurer, and such other OIL
GERS as the board OF directors may de.
termine from time to time, who shall
be elected by the board of directors
Immediately after each annual meeting
OF the stock holders, and shall hold ofioe
for one year, and until their successors
are elected and qualified. The Offices
OF secretary and treasurer naey be held
by the same person. In che event OF
vacancy In any Office the board CT direc-
tors may fill the same. and the person
80 elected shall serve during the unex-
pired term OF his predecessor, and until /,
his successor is elected and qualified.
The first officers OF the corporation
who shall serve until the first annual
meeting OF the stock holders OF the COR
poration, shall be elected by the first
board OF directors as soon as con-
venieut after organization.
ARTICLE TX
The board of directors OF this cor.
porstiOn shall have power to make,
amend. revise and repeal the bylaws
OF the company.
ARTICLE
The highest amount OF indebtedness,
or liability, direct or contingent, to
which this corporation is at any time
to subject itself is Three Hundred thir.
ty three thousand three hundred and
thirty (s333. $3.50 00) Dollars.
ARTICLE XI
The private property. of the stock
holders OF this corporation shall for
ever be exempt from any liability for
the debts OF this corporation.
ARTICLE XII
M. Karam, of Nogales, Arizona, who
has been bona fide resident OF the
State of Arizona for at least three
years, is hereby appointed the lawful
agent Of this corporation, for and In
behalf OF this corporation to accept and
acknowledge service and upon whom
may be served all necessary process or
processes In any action, suit or pro-
ceedings that may be brought against
this corporation in any OF the courts of
the State Of Arizona, and for all pur.
poses required by law. The board of
directors of this corporation may re-
woke this appointment of agent at any
time and shall have power to fill any
vacancy in such position.
IN WITNESS WHEREOF, said par.
ties have hereunto set their hands and
seals this 2lst day of September, 1927.
M KARAM (Seal)
A. N. KARAM (Seal)
NJ KAPAM fCaall