Nogales international., 1927-07-08
Page FIVE

I the County Recorder of Santa
Cruz County, Arizona, and the
termination thereof shall be twen-
ty-five (25) years thereafter, with
the right in the corporation to
renew it's charter for an addition
al period of twenty-five years as
now provided by law.
ARTICLE VII.
The management and conduct
OF the business, property and al.
lars of the corporation shall be
vested in and conducted by a
BOARD of directors of not less than.
three (3) nor more than seven
| ~ persons, and all directors, ex-
cept IN case Of vacancies shall be
elected at the annual meeting of
stockholders, except the first
board, which is chosen as in these
articles hereinafter set forth. The
officers of the company shall con-
Slst OF President, Vice-President.
secretary and Treasurer, and such
other officers as the Board of Di-
irectors shall deem expedient, and
an shall be elected or appointed
by the Board of Directors.
Any two or more offices. the
duties of the incumbent of which
are not inconsistent, may be
neld by the same person. Both
the officers and directors shall
hold their offices for the period
OF one year from and after elec.
tlon 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 oc-
curing in the board by death, re-
slgnation, or otherwise, and the
person or persons elected to fill
any such vacancy or vacancies
shall hold his office until the next
regular meeting of stockholders.
ARTICLE VIII.
The regular annual meeting of
the stockholders shall be held at
the principal office of the corpora
ton on the second Tuesday in
August in each year commencing
with the year 1928.
ARTICLE TX.
The incorporators shall name
the persons who shall constitute
the first board of directors and
when so selected by the incor-
porators said members of the
board shall serve until the first
annual stockholders meeting and
until their successors are elected
and qualified.
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 author
lie and cause to be executed
mortgages, debentures and other
obligations which shall be liens
upon the property and franchises
of the corporation, and. in gen.
eral to exercise all the powers and
of the company not ex-
pressly withheld from said board
by law, or by these Articles of In
corporation, or by the affirmative Z
acton of the stockholders.
ARTICLE XI.
The stockholders and members
of this corporation and their pri-
vate property shall be exempt
from any liability for the debts
of this corporation.
ARTICLE XII.
With the consent Of the holders
Of two-thirds (2/3) in amount of
The capital stock Of this company,
issued and outstanding when
evidenced in writing or with the
consent of Major y in amount
Of the capital stocA Of the corpo-
ration, issued and outstanding,
when expressed BY a resolution
adopted at meeting Of the stock
lolders of the corporation duly
called and held pursuant to the
bylaws, the directors shall have
authority to sell or otherwise dis
rose of in such manner as may be
authorized, the entire property
md assets of the corporation.
ARTICLE XIII.
The Indebtedness of this corpo-
alton shall at no time exceed the
UNI Of Sixty-six Thousand Six
hundred Sixty-six and 66/1O0
$66, 6,666.66) Dollars.
ARTICLE XIV.
Duane Bird, Of Nogales, Santa
;ruz County, Arizona, who has
een a bona fide resident Of the
tate Of Arizona for at least three
81 years, is hereby appointed the,
awful agent Of this corporation
or and on behalf Of it, to accept
nd acknowledge service, and upon
yhom may be served all necessa-
v process in any action, suit or
roceeding that may be held or
rought against this corporation
l any of the Courts of the State
f Arizona, and for all purposes
equired by law.
IN WITNESS WHEREOF, we
ave hereunto set our hands this
9Th day of May, A. d. 1927.
A. G. STEARNS
r. w. ASHBY